2024-01-27 19:05:36
Mark Scott was sentenced to 10 years in prison for his involvement in the OneCoin $400 million crypto fraud.
Back in November 2019, the lawyer was found guilty of conspiracy to commit money laundering and bank fraud. The sentencing took place on Thursday, during which he was sentenced to 10 years in prison.
US Judge Edgardo Ramos, presiding over the case, ordered the seizure of $392,940,000 and various assets, including bank accounts, a yacht, two Porsche cars and four properties, as part of the verdict.
Participant in the procedure according to lawyers Scott, now 55, previously boasted that he had made $50 million by the time he was 50, which he was able to achieve through fraud and deception. The convict will now spend a decade in prison, and all his illegally obtained income will be confiscated.
In 2015, Scott met Ruja Ignatová, the co-founder of OneCoin, known to many as the as “crypto queen” are mentioned. He then began creating fake mutual funds in 2016 to launder millions of dollars in fraudulent proceeds. For his activities, Scott received more than 50 million dollars, from which he bought luxury cars, a yacht and several beach houses.
In his plea filed Friday, Scott asked for a five-year sentence, including one “broken man” who spent the last four years in his home. But prosecutors had pushed for a minimum of 17 years, emphasizing Scott’s greed and dissatisfaction with his already lavish lifestyle as a partner in a prestigious law firm. He lived in a $1.5 million apartment and earned over a million dollars a year.
Another co-founder of the OneCoin system, Karl Sebastian Greenwood, was sentenced in September to 20 years in prison and ordered to forfeit $300 million.
Meanwhile, Ruja Ignatova is still at large and was on the FBI’s 10 Most Wanted list last year. At the time, the agency offered a $100,000 reward for any information leading to the crypto queen’s arrest. According to some assumptions, he tries to remain invisible by using and altering high-quality fake identity documents. Ignatova was last seen boarding a flight from Bulgaria to Greece in 2017.
1706408758
#OneCoins #lawyer #sentenced #years #prison