The trial of an American lawyer accused of laundering cash for the infamous OneCoin pyramid scheme, began in New York yesterday. The lawyer is the primary of three key gamers within the rip-off to face trial. Nevertheless the founder, self-styled Crypto-Queen, Ruja Ignatova, remains to be on the run.

Defendant Denies Any Wrongdoing

The lawyer, Mark Scott, previously a accomplice at Locke Lord LLP, denies shifting a whole lot of hundreds of thousands of {dollars} from the OneCoin scheme into offshore accounts. He was arrested simply over a 12 months in the past, for his position within the multi-billion greenback world pyramid scheme.

Formal costs of conspiracy to commit cash laundering and financial institution fraud had been introduced last month, when Scott plead ‘not guilty’.

His defence is prone to hinge on his declare that, though he did transfer hundreds of thousands of {dollars} via the scheme, he was unaware that it was a felony scheme. He even claims to have raised a number of issues about OneCoin, though to whom wasn’t specified.

The hearings are anticipated to final two to a few weeks.

Ongoing OneCoin Courtroom Motion

Additionally going through prosecution are OneCoin co-founder, Sebastian Greenwood, who was arrested in Thailand final 12 months and extradited to the US, and Konstantin Ignatov. Ignatov is the brother of OneCoin founder, Ruja Ignatova, and was arrested at LAX airport earlier this 12 months.

Ruja Ignatova remains to be at giant, however has been charged in her absence with numerous counts of fraud and cash laundering.

OneCoin can also be being taken to courtroom in a class-action lawsuit, introduced by an investor who misplaced $103ok to the scheme.

Regardless of all of this, OneCoin continues to operate in sure jurisdictions across the globe. It was just lately the topic of a BBC Sounds documentary, speculating as to the whereabouts of the Crypto-Queen.

Presumably dwelling incognito in Europe, having had intensive facial reconstructive surgical procedure utilizing all of the OneCoin cash… in case you had been .

The place do you suppose the Crypto Queen is hiding? Add your ideas under!

Photographs through Shutterstock

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