Mark Scott Sentenced to 10 Years for Onecoin Money Laundering

Mark Scott Sentenced to 10 Years for Onecoin Money Laundering



Mark Scott, a lawyer with ties to the infamous Onecoin cryptocurrency, has received a ten-year prison sentence. He's been charged with diverting $400 million from the Onecoin initiative to fund an extravagant lifestyle.



During his trial, the judge raised questions about Scott's decision to sell his Porsche and move money to the Cayman Islands, arguing that this money should have been used to reimburse victims of Onecoin.



In a plea of innocence, Mark Scott's attorneys have repeatedly stated that he was oblivious to Onecoin being a scam. They maintain that he did not know OneCoin was a fraudulent operation.



OneCoin, under the leadership of co-founder Ruta Ignatova, gathered more than $4 billion between 2014 and 2016. Ignatova, known as the "Cryptoqueen," has been off the radar since vanishing six years ago. In June 2022, she


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