OneCoin Lawyer Mark Scott Granted Bail Amid Appeal for Fraud, Money Laundering Conviction
Summary:
Mark Scott, a lawyer involved in the OneCoin crypto scheme, has been granted bail pending his appeal case for fraud and money laundering. Despite his conviction and 10-year sentence, health issues and the non-violent nature of his charges have been considered in allowing bail. Both OneCoin's co-founder, Karl Sebastian Greenwood, and former chief compliance officer, Irinia Dilkinska, are also undergoing legal repercussions for their involvement in the scheme. Meanwhile, U.S. enforcement agencies continue to intensify their efforts against cryptocurrency-related crime.
Lawyer Mark Scott, previously linked to the fraudulent crypto operation known as OneCoin, has been granted bail while he appeals his conviction for fraud and money laundering. US District Court for the Southern District of New York Judge Edgardo Ramos approved Scott's bail request on April 18, three months after Scott received a 10-year prison sentence. Details of Scott's health were included in a section of the court document, his legal team argued that his health situation makes it unlikely for him to flee.
"Given Scott’s medical conditions, the lack of violent crime charges against him, and the data currently available to the Court, Scott doesn't appear to be a flight risk, nor does he seem to be a threat to public safety or anyone in the community, should he remain on bail,” noted Judge Ramos.
A notification filed on Feb. 7 indicated that some "substantial questions" of legal nature might influence an appeal. Scott's defence team proposed that OneCoin scheme's leader, Konstantin Ignatov — also the brother of Ruja "Cryptoqueen" Ignatova — had committed perjury. Yet, Ignatov's testimony was still used by the prosecution.
"The Court is somewhat skeptical about Scott succeeding in getting a reversal or new trial on all charges," said the judge. "However, the Court cannot dismiss the questions as trivial. They are clearly related to the substance of Scott's conviction, and it's possible that a successful appeal could necessitate a complete reversal or a fresh trial on all charges that led to Scott's imprisonment.”
Scott was found guilty in November 2019 of conspiracy to commit bank fraud and conspiracy to launder money concerning him helping launder millions for OneCoin. On his instruction, OneCoin founder, Ruja Ignatova, who remains at large, funneled funds. News also came to light that OneCoin co-founder, Karl Sebastian Greenwood, was sentenced to 20 years for fraud and money laundering charges in September 2023 and was ordered to pay $300 million as restitution for OneCoin victims. Former OneCoin chief compliance officer, Irinia Dilkinska, was sentenced to four years in prison on April 3 after pleading guilty to two felony charges.
US enforcement agencies are increasingly cracking down on criminal activity related to cryptocurrency.
Published At
4/19/2024 12:37:18 AM
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