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The OneCoin scam saga has continued to linger despite it being years since it took place, and this time around, a lawyer who was involved in the pyramid scheme has received a rather shocking response from the court. 

OneCoin Lawyer Denied Retrial

According to a report by Bloomberg, a US court has denied Mark Scott’s request to be granted a new trial. The lawyer is said to have helped launder $400 million as part of the proceeds from the scheme and was found guilty by the court in November 2019 of money laundering and bank fraud conspiracy. 

However, Scott was hoping to get a new trial on the grounds of “legal mistakes” and following evidence that the prosecution witness, who happens to be the brother of the “cryptoqueen” Ruja Ignatova, perjured himself on the witness stand.

As to the court’s reason for the decision, US District Judge Edgardo Ramos stated that he wasn’t convinced that Scott was innocent despite the fact that Ignatova’s brother, Konstantin Ignatov, lied in his testimony. 

The judge may have reached this conclusion because the prosecution provided other irrefutable evidence to the fact that Scott was guilty, and the court’s ruling paves the way for Scott to be sentenced. 

However, Bloomberg reports that Scott’s lawyer mentioned that his client intends to appeal the decision. According to him, it is disappointing that the court didn’t grant a new trial despite being provided with “undisputed evidence that the Government’s sole cooperating witness perjured himself.”

Ignatov had himself been prosecuted for his role in his sister’s fraudulent scheme. However, he pleaded guilty and agreed to cooperate with the prosecutor, including testifying against other alleged conspirators like Scott.

One Of The Largest Fraud Schemes

On September 12, US District Judge Edgardo Ramos sentenced OneCoin’s co-founder Karl Greenwood to 20 years imprisonment and ordered him to pay close to $300 Million in forfeiture. In the Department of Justice’s (DOJ) statement, Greenwood, alongside Ruja Ignatova, is said to have “operated one of the largest fraud schemes ever perpetrated.”

Karlwood and Ignatova reportedly made over $4 billion from their fraudulent scheme, with many investors worldwide investing their money in the cryptocurrency OneCoin. At the time, Ignotova claimed that crypto would be the “Bitcoin killer.” 

The “Cryptoqueen” still remains at large and is listed on the Federal Bureau of Investigation’s (FBI) top 10 most-wanted fugitives. She is also listed as one of the most wanted criminals in Europe, with Europol offering a reward of 5,000 Euros for information leading to her arrest. 

The last known fact as to her whereabouts is that she boarded a plane from Bulgaria to Athens and has ‘disappeared’ since then.

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