A prosecutor from the United States told a Manhattan jury that a lawyer under the name of Mark S. Scott received a payment of $50 million from OneCoin co-founder and fugitive Ruja Ignatova. In return, Scott helped Ignatova to launder $400 million.
According to the November 20 report from Law360, the attorney from Manhattan, United States office, as well as the lawyer from the New York County district office, are currently in the last stage of arraigning Scott, who is a past partner at law firm Locke Lord. Scott allegedly received $50 million payment and helped Ignatova launder a sum of $400 million.
Ignatova is the current fugitive and co-founder of OneCoin, a Ponzi scheme that is promoted as a crypto-asset with private Blockchain. OneCoin’s co-founder is more commonly known as the “cryptoqueen.”
$4.4 billion raise in crypto scam
According to Prosecutor Julieta Lozano, Scott received a 57-foot yacht luxury cars including a Ferrari and three Porches, and a home in Cape Cod worth three million dollars.
OneCoin is a Ponzi scheme that is very notorious in the crypt-asset industry. But despite this fact, the firm based in Bulgaria remains in operation. Investigators also accused that the firm raised $4.4 billion in a Ponzi scheme.
Prosecutors from the United States alleged Scott of employing a vast network of offshore bank accounts, fraudulent companies, and investment schemes to launder an approximate amount of over $400 million in ill-gotten assets.
Scott remains to his statement that he does not know that OneCoin was a scam; however, prosecutor Nicholas Folly noted that they hold a shred of powerful and clear evidence.
Moreover, Scott’s defense lawyer told the prosecutors that there are plenty of doubts, which makes the case unclear and that there is no evidence that proves Mark Scott was an ally of the Ponzi scheme.
According to a spokesperson from Locke Lord, where Scott formerly works, the firm was unaware of Scott’s suspected criminal activities that happened after he left.
Scott worked for the said firm for a little more than a year. He was sued for money-laundering two years after he resigned. Locke Lord also added that it is currently cooperating with the government officials.