US Attorney's Office Calls for 17-Year Jail Term for Lawyer in OneCoin Laundering Case
Summary:
The United States Attorney’s Office seeks a minimum 17-year prison punishment for Mark Scott, a lawyer involved in laundering money through the fraudulent OneCoin cryptocurrency scheme. Despite his legal team proposing a five-year term, prosecutors argue that a harsher sentence is needed, given Scott's no evidence of remorse and his elaborate illegal activities. They believe a stricter sentence would serve as an adequate deterrent to potential money launderers.
The United States Attorney’s Office has proposed a bare minimum of 17 years behind bars as a just and fitting sentence for an attorney implicated in money laundering related to the OneCoin cryptocurrency scam. A document filed on January 19 in the U.S. District Court for the Southern District of New York sees U.S. Attorney Damian Williams advocating for a jail term of 17 years at the bare minimum for Mark Scott, the attorney who reputedly funneled millions of dollars in dirty money through OneCoin. Prosecutors assert that Scott willingly opted for full-time collaboration with 'Cryptoqueen' Ruja Ignatova, a co-founder of OneCoin alongside Karl Sebastian Greenwood in 2014.
Scott's "extremely grave and complicated illegal activities" were highlighted in the January 19 document, emphasizing Scott's lack of responsibility and remorse. The seriousness of his offence, it suggests, ought to be reflected in his punishment.
The filing went on to present evidence suggesting that Scott was fully aware of OneCoin's fraudulent nature and regularly "disseminated lies and manipulated documents" relating to his clandestine ties with the fraudulent firm and Ignatova. Prosecutors claim he employed his legal expertise and position to conceal his unlawful dealings with Ignatova from the authorities. They contend that a minimum 17-year jail term would serve ideally to discourage such "deplorable" behavior associated with Scott.
The prosecutors annotate, "Deterring potential money launderers who, in many cases, might play a part in scams like this from a secured distance to the actual fraudulent operation is crucial. Without the likes of Scott, scams such as OneCoin would eventually choke and crumble."
The attorney for OneCoin was found guilty of conspiring to defraud a bank and of money laundering conspiracy in November 2019. As per the U.S. Attorney, Scott's defense team suggested a five-year prison term.
News emerged in September 2023 that Greenwood had been given a 20-year prison sentence for fraudulent activities and money laundering. He was instructed to reimburse OneCoin victims with $300 million. In November 2023, Irinia Dilkinska, leading compliance officer for OneCoin, pleaded guilty to two felonies, with her sentencing scheduled for February. Despite being a pivotal part of the scam, Ignatova is still on the run, featuring on the Federal Bureau of Investigation's list of ten most wanted for conspiring to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, and securities fraud.
Published At
1/20/2024 1:01:23 AM
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