OneCoin Crypto Scam Accomplice William Morro Faces US Bank Fraud Charges
Summary:
William Morro, linked to the infamous OneCoin cryptocurrency scam, has been charged with bank fraud by the U.S. Justice Department. Morro is accused of moving $35 million related to OneCoin from China to a Hong Kong account in 2016, and subsequently transferring over $6 million into a U.S. account he controlled. He has surrendered to law enforcement, admitting guilt to conspiracy to orchestrate bank fraud, and awaits sentencing. Many individuals involved in the OneCoin scam have been charged, including the 'CryptoQueen' Ruja Ignatova, who remains at large. OneCoin, exposed as a fraudulent scheme in 2015, defrauded investors of around $4 billion.
William Morro, associated with the notorious OneCoin cryptocurrency scam, has been apprehended and charged with bank fraud by the U.S. Justice Department. According to court documents from the U.S. District Court for the Southern District of New York dated April 23, Morro allegedly moved $35 million related to OneCoin from Chinese bank accounts to a Hong Kong account in 2016. It is claimed that Morro subsequently transferred over $6 million from the Hong Kong account to one he controlled in the U.S. as part of a deceptive scheme, according to the replacement indictment.
Morro swiftly surrendered to law enforcement and admitted guilt to one charge of conspiracy to orchestrate bank fraud. Pending a sentencing hearing scheduled for August 1, he has been granted conditional release. Relevant OneCoin assets have been subjected to a seizure order by the Justice Department.
Reports link Morro to Gilbert Armenta, previously involved with OneCoin's initiator, Ruja Ignatova. In 2023, Armenta received a five-year prison sentence for laundering nearly $300 million proceeds of the OneCoin scam. Morro is recognized as a managing associate of the InterAmerican Group and a director of AEE Power.
The exact nature of information that led U.S. officials to issue a new indictment against Morro, eight years after his supposed fraudulent acts, remains unspecified. Many individuals involved in the OneCoin scam have been charged by the Justice Department, including lawyer Mark Scott, head of legal and compliance Irina Dilkinska, and co-founder Karl Sebastian Greenwood.
Ruja Ignatova, alias the 'CryptoQueen,' has been indicted in the U.S. but remains unsubdued and is one of the FBI's top ten most sought fugitives.
The court filings from April 23 maintain that Morro has retained the services of Mark Cohen and Jonathan Abernethy from the law firm of Cohen and Gresser. Cohen is recognized for representing Sam Bankman-Fried in his 2023 criminal lawsuit, where the ex-FTX CEO was found guilty on seven felony charges and ultimately got a 25-year sentence.
OneCoin, established in 2014 and unmasked as a sham cryptocurrency scheme in 2015, swindled investors of approximately $4 billion. In the case of Morro, the charge of conspiracy to commit bank fraud potentially carries a lengthy prison sentence of up to 30 years.
Published At
4/24/2024 7:41:00 PM
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