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Attorney Associated with OneCoin Scam Refused New Trial Following Testimony of Witness Perjury
In a significant ruling on Sept. 18, United States District Judge Edgardo Ramos dismissed a request for a new trial from Mark Scott, the 54-year-old attorney involved in the $400 million OneCoin fraud case. Scott was found guilty of money laundering and conspiracy to commit bank fraud in November 2019. Although a government witness committed perjury during the initial trial, Judge Ramos was not convinced that “an innocent person may have been convicted.”
Importantly, Scott asserted that he was unaware of OneCoin being a fraudulent operation when he assisted in establishing the fund that laundered money for its elusive founder, Ruja “Cryptoqueen” Ignatov. His legal team has been diligently working to obtain a new trial based on false testimony from Konstantin Ignatov, a government witness and Ruja’s sibling. Konstantin acknowledged his involvement in aiding his sister’s fraudulent activities.
Nevertheless, the request for a new trial was rejected, intensifying the controversy. Scott’s lawyers announced intentions to appeal, expressing dissatisfaction with the court’s ruling. They highlighted that their client warranted a new trial, particularly given that the government’s principal witness lied under oath.
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Furthermore, OneCoin’s troubling history continues to unfold. Established in 2014, it presented itself as a cryptocurrency similar to Bitcoin. However, it was later revealed to be a pyramid scheme, luring new investors with deceptive promises of enormous returns. Scott allegedly diverted $50 million from the scheme to support a lavish lifestyle, which included acquiring multimillion-dollar residences, luxury vehicles, and even a 17-meter yacht.
Additionally, on Sept. 12, another significant figure, OneCoin’s co-founder Karl Greenwood, received a 20-year sentence on multiple charges, including fraud and money laundering. Ruja Ignatov remains at large and has been placed on the FBI’s Ten Most Wanted List, having vanished in October 2017.
Thus, the denial of Scott’s motion for a new trial adds another layer of complexity to an already intricate web of deception. This not only raises concerns about the integrity of the judicial system but also serves as a stark reminder of the risks and hazards present in the largely unregulated realm of cryptocurrencies. As a result, this case will continue to be a central topic in ongoing discussions regarding the necessity for stricter regulation and oversight in the crypto sector.
The post Lawyer Tied to OneCoin Fraud Denied New Trial Despite Witness Perjury appeared first on BitcoinWorld.
