Despite asserting legal errors and false testimony during his original 2019 trial, a lawyer who laundered $400 million from the OneCoin scam has been denied a request for a new trial.
Mark Scott, a 54-year-old lawyer, was found guilty in November 2019 of money laundering and bank fraud conspiracy. He was accused of orchestrating a fraudulent fund that processed and funneled payments and transactions from the OneCoin scheme, ultimately earning him $50 million.
Scott's defense argued that he was unaware of OneCoin's fraudulent nature when he set up the fund and should not be held responsible for aiding OneCoin's founder, Ruja "Cryptoqueen" Ignatov.
In the pursuit of a new trial, Scott's legal team cited false testimony from a government witness, Konstantin Ignatov, during the original trial. Konstantin Ignatov, who admitted to assisting his sister Ruja in the OneCoin fraud, provided this testimony.
However, United States District Judge Edgardo Ramos, during a hearing on September 18, rejected the request for a new trial, expressing doubt that an innocent person had been wrongfully convicted, despite the false testimony.
Scott's attorneys have indicated their intention to appeal the decision, maintaining that their client is "disappointed that the court did not grant a new trial given the undisputed evidence that the Government’s sole cooperating witness perjured himself."
OneCoin, which was launched in 2014, initially presented itself as a cryptocurrency similar to Bitcoin but was later revealed as a pyramid scheme. It operated by attracting new participants through fictitious claims and promises of substantial future returns.
The prosecution alleged that Scott used the $50 million obtained from OneCoin to fund a lavish lifestyle, acquiring numerous luxury items, including multimillion-dollar homes, luxury watches, sports cars, and a 17-meter yacht.
On September 12, Judge Ramos sentenced Karl Greenwood, co-founder of OneCoin, to 20 years in prison in the United States following his conviction on multiple charges, including fraud and money laundering.
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