Crypto News- The United States Attorney’s Office has recommended a minimum 17-year sentence, deeming it “fair and appropriate,” for Mark Scott, a lawyer involved in money laundering through the OneCoin crypto scheme. In a filing dated January 19 in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams emphasized the severity of Scott’s actions, stating that he laundered millions of dollars for the co-founder of OneCoin, Ruja Ignatova, also known as the “Cryptoqueen.”
OneCoin Lawyer Faces Prosecutors’ Recommendation of Minimum 17-Year Prison Term
Prosecutors accused Scott of knowingly engaging in serious and sophisticated criminal conduct, asserting that he failed to take responsibility or express any remorse for his actions. The filing highlighted evidence suggesting that Scott was aware of the fraudulent nature of OneCoin but consistently lied and falsified documents related to his involvement with the firm and Ignatova. The prosecution claimed that Scott, leveraging his status as an attorney, used it to shield his illegal communications with Ignatova from law enforcement.
The U.S. Attorney’s Office argued that a minimum 17-year sentence is crucial to deter potential money launderers, emphasizing the significance of targeting individuals who can operate at a safe distance from the day-to-day operations of fraud schemes like OneCoin. They stressed that without individuals like Scott, such schemes would struggle to thrive.
Mark Scott, convicted of conspiracy to commit bank fraud and conspiracy to commit money laundering in November 2019, had his legal team propose a significantly shorter sentence of five years in prison. This recommendation sharply contrasts with the prosecution’s stance on the severity of Scott’s conduct.
US Attorney Recommends 17-Year Sentence for OneCoin Lawyer in Money Laundering Scheme
In a related development, Karl Sebastian Greenwood, a co-founder of OneCoin, was sentenced to 20 years in prison in September 2023 for fraud and money laundering. He was also ordered to pay $300 million in restitution to OneCoin victims. Irinia Dilkinska, the former chief compliance officer at OneCoin, pleaded guilty to two felony counts in November 2023, with her sentencing scheduled for February 2024.
While implicated in the scheme, Ruja Ignatova remains at large, earning a spot on the Federal Bureau of Investigation’s Ten Most Wanted List. Charges against her include conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud. As of the current date, Ignatova’s whereabouts are unknown.
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