February 20, 2024

Manhattan and New York Prosecutors Investigate $ 400 Million Laundering Case for OneCoin Scam Project

Manhattan and New York Prosecutors Investigate $ 400 Million Laundering Case for OneCoin Scam Project

The Manhattan US Attorney's Office and the New York District Attorney's Office are in the final stages of prosecution.proceedings against a former partnerlaw firm Locke Lord, Scott, who allegedly participated in laundering $400 million for OneCoin project creator Ruja Ignatova. This was reported by Cointelegraph.

OneCoin is one of the most notorious scams in the industry. However, the company is still operating today, despite raising a whopping $4.4 billion through a Ponzi scheme.

U.S. prosecutors accuse Scott of usinga wide network of one-day companies, offshore bank accounts and fraudulent investment schemes for laundering more than $ 400 million of illegally obtained funds.

Prosecutor Julieta Lozano previously stated that inAs compensation for his criminal activity, Scott was paid about $ 50 million in the form of a yacht, three houses worth several million dollars in Massachusetts, and luxury cars.

Although Scott claims that he did not know that OneCoin is a fraudulent scheme, Attorney Nicholas Folly claims that the evidence against Scott was “overwhelming” and “obvious.”

Scott's lawyer, on the other hand, denies the defendant's guilt; there is no evidence that Mark Scott was ever involved in laundering funds for OneCoin.

A spokeswoman for Locke Lord said the company had no knowledge of Scott's criminal activities that he engaged in after leaving the company, stating:

Scott, who had been with us for just over a year, wascharged by the federal government with money laundering nearly two years after his dismissal. We did not know about his actions outside the company, and we are cooperating with government agencies in this direction.

Let's remember that it was previously known that Neil Bush, brother of former President George W. Bush and son of the late President George H.W., received $300,000 for participating in a meeting organized by OneCoin.