The lawyer liable for laundering $400 million from the OneCoin fraud has been denied a movement looking for a brand new trial, regardless of a prosecution witness having perjured themselves within the trial in opposition to him in 2019.

Based on a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent operation on the time and shouldn’t be charged for his function in organising the fund that laundered cash for OneCoin founder Ruja “Cryptoqueen” Ignatov. 

Scott was discovered responsible of cash laundering and financial institution fraud conspiracy in November 2019, with prosecutors discovering that Scott earned a complete of $50 million by way of a fraudulent fund that processed funds and transactions siphoned from the OneCoin scheme.

His authorized crew has been looking for a brand new trial since, citing a false testimony from a authorities witness within the unique trial. 

Because the #OneCoin turns: now cash launderer Mark Scott’s movement denied. What number of years?
Docketed as we speak: “ORDER as to Mark S. Scott’s motions for a brand new trial pursuant to Federal Guidelines of Felony Process 29 and 33. the motions are DENIED.” https://t.co/CpstHJAkrr

— Inside Metropolis Press (@innercitypress) September 18, 2023

Nonetheless, throughout a Sept. 18 listening to, United States District Decide Edgardo Ramos denied the attorneys’ request for a brand new trial, saying he was unconvinced that “an harmless particular person might have been convicted” regardless of the false testimony delivered through the 2019 trial by Konstantin Ignatov.

Konstantin Ignatov was a authorities witness who admitted to aiding his sister Ruja within the OneCoin fraud.

Legal professionals for Scott stated that they’d enchantment the choice, claiming that his shopper was “upset that the court docket didn’t grant a brand new trial given the undisputed proof that the Authorities’s sole cooperating witness perjured himself.”

Associated: OneCoin head of compliance going through 40-year sentence after US extradition

OneCoin was launched in 2014, and marketed itself as a cryptocurrency that was comparable in construction to Bitcoin. Nonetheless, it was later revealed to be a pyramid scheme that functioned by luring in new customers with fictitious claims and guarantees of excessive future earnings.

The prosecution claimed that Scott used the $50 million in proceeds from OneCoin to finance an costly way of life, shopping for a swathe of luxurious items together with quite a few multimillion-dollar houses, watches, sports activities automobiles and a 17 meter yacht.

On Sept. 12, Ramos sentenced OneCoin’s co-founder Karl Greenwood to twenty years in jail in america, after he was discovered responsible of a litany of prices together with fraud and cash laundering.

In 2014, a lady named Ruja Ignatova launched a faux cryptocurrency named “OneCoin”. Regardless of the foreign money by no means current, Ruja satisfied individuals everywhere in the world to speculate. In 2017, after raking in $4 billion revenue, she boarded a aircraft to Greece and hasn’t been seen since. pic.twitter.com/DoJCfmy0Uj

— Informative & Attention-grabbing (@infotale_in) March 15, 2023

Ruja Ignatov has not been seen since October 2017 and is presently on the Federal Bureau of Investigation’s Ten Most Wished Listing.

Large Questions: What’s with all of the crypto deaths?