November 2, 2020 | AtoZ Markets – A panel of five judges in a New York appellate court have disbarred Mark S. Scott, the lawyer of Ruja "Cryptoqueen" Ignatova of the infamous OneCoin Ponzi scheme. Scott was banned from acting as an attorney or legal consultant before any court or other government agency in New York State.
OneCoin lawyer Mark S. Scott was found guilty of money laundering
Earlier, the OneCoin lawyer was found guilty of laundering $400 million for Ignatova through a network of fraudulent investment funds and international offshore zones. For himself, Scott earned $50 million from these schemes.
According to prosecutors, Scott boasted of earning “50 by 50,” referring to his wealth and age, and he used the money to purchase cars, a boat, and multiple beachside homes.
Scott, who is free from prison due to medical concerns, is currently awaiting sentencing scheduled for December 2020. He faces up to 50 years in prison. If Scott wins the appeal, he will be able to apply to have the sanction lifted.
Cryptoqueen Ruja Ignatova remains at large
The OneCoin cryptocurrency pyramid was founded in 2014 by Ruja Ignatova together with Sebastian Greenwood. As AtoZ Markets earlier reported, the New York Southern District Court had postponed Konstantin Ignatov’s sentencing for three months at the U.S. government’s request. However, the face of OneCoin, who is known as the mastermind behind this major crypto scam, Ruja Ignatova remains at large.
Konstantin Ignatov, the brother of OneCoin’s fugitive founder Ruja, has agreed to cooperate with the class of OneCoin investors to testify against his sister. Ignatov’s sentencing is currently scheduled for November 11 after getting postponed a couple of times.
The OneCoin saga will reportedly be the topic of an upcoming major Hollywood movie. Oscar-winner Kate Winslet will play the infamous “CryptoQueen.” The story is now on its way to becoming a BBC television drama.
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