Prosecutors recommend that OneCoin’s attorney be sentenced to at least 17 years in prison
The US Attorney's Office has suggested that a minimum sentence of 17 years is “just and appropriate” for the lawyer responsible for the OneCoin cryptocurrency scheme.
On January 19, US Attorney Damian Williams recommended a “minimum 17-year sentence” for attorney Mark Scott, who lent millions of dollars through OneCoin, in a lawsuit filed in the US District Court for the Southern District of New York. According to prosecutors, Scott “Cryptoqueen' Ruja Ignatova, who co-founded OneCoin with Carl Sebastian Greenwood in 2014, has chosen to work full-time on cryptocurrency.
“[Scott] “Engaged in an incredibly serious and sophisticated criminal activity, failed to accept responsibility and showed little remorse,” the Jan. 19 filing said. “His punishment should be proportionate to the seriousness of the crime.”
Prosecutors cited evidence that Scott knew OneCoin was a fraudulent scheme, but “repeatedly and routinely falsely and falsified documents” related to his relationship with the organization and Ignatova. He used his status and expertise as a lawyer to protect his illicit relations with Ignatova from law enforcement, and a minimum 17-year sentence based on Scott's “disgusting” behavior is a reasonable defense.
“In schemes like this, it's critical to prevent counterfeiters who often participate in the day-to-day operations of the fraud scheme at a safe distance. Without fraudsters like Scott, schemes like OneCoin will fail and fail.”
OneCoin's lawyer was charged in November 2019 with conspiracy to commit bank fraud and money laundering. As the U.S. attorney, Scott's legal team recommended a five-year sentence.
Related: OneCoin: A deep dive into crypto's most notorious Ponzi scheme
In September 2023, Greenwood was sentenced to 20 years in prison for fraud and money laundering and ordered to pay $300 million in restitution to OneCoin victims. Irenia Dilkinska, the former chief compliance officer at OneCoin, pleaded guilty to two criminal charges in November 2023, with sentencing scheduled for February.
Although it is included in the plan, Ignatova remains completely at the time of publication. She is on the FBI's Ten Most Wanted list for wire fraud, wire fraud, money laundering conspiracy, securities fraud and securities fraud.
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