OneCoin Lawyer Moves for Acquittal After $400M Laundering Conviction
- He raised questions on the witnesses in the case.
Mark Scott, a US Lawyer involved in the OneCoin scam, is seeking acquittal after being convicted by a US court over charges brought against him by the US prosecutors.
In a recent court filing, the attorneys of the defendant raised questions on the connections of the witnesses mentioned by the prosecutors. Out of a total of 17 witnesses, only two had met Scott before, each of them only once, the filing stated.
Scott was convicted last November by a US court for his involvement in laundering $400 million. He faced two charges – one for conspiracy to commit Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and another to commit bank fraud – and was found guilty for both.
Now his lawyers argue that the evidence produced by the prosecutors was not sufficient enough for a conviction in either count.
No knowledge of crime?
Scott is also claiming that he was unaware of any illegal activities by OneCoin despite working at the company’s headquarters for years. Per his testimony, the lack of any genuine Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term of the project was only known to the founder of the project Ruja Ignatova and two IT professionals.
In the filing, the attorneys further raised questions on the jurisdiction of the US prosecutors, as OneCoin did not have many victims in the country. The case was mostly built based on the testimony of Konstantin Ignatov, brother of Ruja Ignatova, and two victims in the country who invested in the digital currency.
The defendant also pointed out that neither of the victims met him in person or had any direct dealings with him.
Notably, the US prosecutors also took the testimony of Bank of Ireland staff, who revealed that Scott was using multiple accounts at the bank to funnel money from the Cayman Islands and the British Virgin Islands to the United Arab Emirates.
Meanwhile, the mastermind of the $4 billion scam, Ruja Ignatova, is still at large and is believed to have fled for Vienna or Athens.
Mark Scott, a US Lawyer involved in the OneCoin scam, is seeking acquittal after being convicted by a US court over charges brought against him by the US prosecutors.
In a recent court filing, the attorneys of the defendant raised questions on the connections of the witnesses mentioned by the prosecutors. Out of a total of 17 witnesses, only two had met Scott before, each of them only once, the filing stated.
Scott was convicted last November by a US court for his involvement in laundering $400 million. He faced two charges – one for conspiracy to commit Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and another to commit bank fraud – and was found guilty for both.
Now his lawyers argue that the evidence produced by the prosecutors was not sufficient enough for a conviction in either count.
No knowledge of crime?
Scott is also claiming that he was unaware of any illegal activities by OneCoin despite working at the company’s headquarters for years. Per his testimony, the lack of any genuine Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term of the project was only known to the founder of the project Ruja Ignatova and two IT professionals.
In the filing, the attorneys further raised questions on the jurisdiction of the US prosecutors, as OneCoin did not have many victims in the country. The case was mostly built based on the testimony of Konstantin Ignatov, brother of Ruja Ignatova, and two victims in the country who invested in the digital currency.
The defendant also pointed out that neither of the victims met him in person or had any direct dealings with him.
Notably, the US prosecutors also took the testimony of Bank of Ireland staff, who revealed that Scott was using multiple accounts at the bank to funnel money from the Cayman Islands and the British Virgin Islands to the United Arab Emirates.
Meanwhile, the mastermind of the $4 billion scam, Ruja Ignatova, is still at large and is believed to have fled for Vienna or Athens.