Monday November 4, 2019: Start Trial Mark S. Scott, accused of conspiracy to commit money laundering of OneCoin proceeds, and conspiracy to commit bank fraud

Friday March 8, 2019 Press Release
Ruja Ignatova, Mark S. Scott and others agreed to launder the proceeds of the OneCoin fraud scheme. Specifically, Ignatova, Scott, and others agreed with others to conduct transactions involving OneCoin fraud proceeds in order to conceal and disguise the nature, location, source, ownership, and control of the proceeds. Scott, a former partner of a major United States law firm, assisted Ignatova and others in laundering more than $400 million through a series of purported investment funds holding bank accounts at financial institutions in the Cayman Islands and the Republic of Ireland, among other locations. The indictment charging Scott was previously unsealed, and Scott was arrested in Barnstable, Massachusetts, on September 5, 2018.

Scott, 50, of Coral Gables, Florida, is charged by Indictment with one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and one count of conspiracy to commit bank fraud, which carries a maximum sentence of 30 years in prison.

Scott’s trial will start on Monday November 4, 2019 before U.S. District Judge Edgardo Ramos.

8 March 2019, Manhattan U.S. Attorney Announces Charges Against Leaders Of “OneCoin,” A Multibillion-Dollar Pyramid Scheme Involving The Sale Of A Fraudulent Cryptocurrency