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Home » OneCoin attorney granted bail while awaiting appeal following conviction and 10-year prison term
OneCoin attorney granted bail while awaiting appeal following conviction and 10-year prison term
OneCoin attorney granted bail while awaiting appeal following conviction and 10-year prison term

OneCoin attorney granted bail while awaiting appeal following conviction and 10-year prison term

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By admin on 2024-04-18 Regulations Security

Mark Scott, a lawyer involved in the OneCoin cryptocurrency scheme, which he was recently convicted of for fraud and money laundering, has been granted bail while awaiting an appeal of his case. The decision was made by Judge Edgardo Ramos of the United States District Court for the Southern District of New York, three months after Scott was sentenced to 10 years in prison. The court filing revealed that Scott’s health issues were redacted, but his legal team argued that this did not make him a flight risk.

Judge Ramos stated, “Based on the record before the Court, given Scott’s medical conditions and because he has not been charged with a violent crime, the Court does not find that Scott is likely to flee or pose a danger to the safety of any other person or the community if allowed to remain on bail.”

Scott’s legal team filed a notice on February 7, citing “substantial questions” of law that should be considered in a potential appeal. They claimed that Konstantin Ignatov, brother of Ruja “Cryptoqueen” Ignatova and a leader in the OneCoin scheme, had perjured himself, but prosecutors still used his testimony in the case.

The judge expressed doubt that Scott would obtain a reversal or new trial on both counts, but acknowledged that the questions raised were not frivolous and could potentially lead to a reversal or new trial on all counts for which Scott was imprisoned.

In November 2019, Scott was convicted by a jury of conspiracy to commit bank fraud and conspiracy to commit money laundering for his involvement in laundering millions of dollars through the OneCoin scheme. He laundered funds under the direction of OneCoin co-founder Ruja Ignatova, who is still at large.

OneCoin co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison for fraud and money laundering in September 2023 and ordered to pay $300 million in restitution to OneCoin victims. Former OneCoin chief compliance officer Irinia Dilkinska pleaded guilty to two felony counts and was sentenced to four years in prison on April 3.

US enforcement agencies are increasing their efforts to combat cryptocurrency-related crimes.

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