OneCoin Leader Has Sentencing for Money Laundering Adjourned

The alleged leader behind the massive crypto fraud OneCoin, Konstantin Ignatov has again had his sentencing control date adjourned. This is his second request for an extension of time.

July 15 2020 | AtoZ MarketsOne of the key figures alleged to be behind the massive crypto fraud OneCoin Konstantin Ignatov has secured extra time to prepare his answer to the victims’ complaint. According to an order signed by Judge Valerie E. Caproni of the New York Southern District Court on July 14, 2020, Ignatov’s answer is due August 6, 2020.

Why was OneCoin leader US sentencing adjourned?

Konstantin Ignatov has had his sentencing date adjourned for the second time. The adjournment, however, will permit him and the plaintiffs to continue their progressing settlement negotiations, which in turn may obviate the need for Ignatov’s responsive pleadings.

The plaintiffs in this case represent all individuals and entities who transferred to the OneCoin defendants, directly or indirectly, any fiat currency or cryptocurrency to invest in OneCoin Trader Packages or OneCoins from April 2014 through to and including March 2018 and who suffered financial injury as a result thereof.

Related article: OneCoin Scam timeline – where is Ruja Ignatova?

Lead Plaintiff Donald Berdeaux and plaintiff Christine Grablis allege in the First Amended Class Action Complaint claims under the federal securities laws and common law against key operators of OneCoin Ltd. and certain of their enabling co-conspirators arising from a massive fraud perpetrated on millions of individual investors throughout the world causing injuries in excess of $4 billion through a densely-packed multi-level-marketing system.

Two promoters of OneCoin found dead in Mexico

A report last Friday by La Tercera said the bodies, identified as Oscar Brito Ibarra and Ignacio Ibarra (apparently not relations), had been found in suitcases by local police on June 30. The police discovered the suitcases on a vacant lot in Mazatlan in the region of Sinaloa, a seaside town located about 1,000 kilometers (621 miles) from the country’s capital, Mexico City.

The cause of death was suffocation, according to local police who are treating the case as a double homicide. Oscar was a Chilean national, while Ignacio came from Argentina. The two men were kidnapped in Villa Carey, another neighborhood in Mazatlan.

The men promoted the crypto investment scheme OneCoin – called a fraud by prosecutors in the U.S. and elsewhere – throughout Latin America. They had reportedly convinced numerous individuals to invest in OneCoin through an entity called the Latin American Automotive Marketing Company (CLA), which accepted cryptocurrencies for car purchases. The pair traveled last month to Mazatlan to promote CLA. However, shortly after their arrival, the pair were found dead.

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