The post Onecoin’s Ex-legal Advisor Receives Four Years in Prison for $4 Multi-Billion Crypto Scam appeared first on Coinpedia Fintech News

With a significant development in the complicated legal situation of the OneCoin cryptocurrency project scheme, Irina Dilkinska who had been the former head of legal and compliance of the fraudulent cryptocurrency was sentenced to four years in prison. 

Dilkinska’s sentencing has come after she stood forth and admitted to playing a role in laundering millions of dollars worth of proceeds from the fraud.

The 42 years old Irina Dilinkska pleaded guilty to fraud and conspiracy to launder money charges in November. Although her lawyer begged for a more lenient sentence and the chance for her to go back to Bulgaria to take care of her two small children, US District Judge Edgardo Ramos dismissed her plea.

Judge Ramos noted during the sentencing that Dilkinska knew she was a smart woman and could understand the consequences of her decisions. He also made her reimburse the $118.4 million as restitution along with one month of supervised release expressing the magnitude of the financial harm wrought by the scam.

Dilkinska’s participation in the OneCoin fraud produces a new page in the legal tug of war against the $4 billion money scheme. OneCoin positioned itself as a cryptocurrency but actually never went through this stage, instead adopted a pyramidal scheme that gave commissions to its members to get others to buy useless OneCoin packages.

One coin under the radar since 2017

The chief financier of this fraud, Ruja Ignatova, aka the “Cryptoqueen” was missing in action since 2017. This was around the time when the investigators started having doubts about OneCoin. Ignatova was on the FBI’s list of Ten Most Wanted fugitives in 2022. 

Among several key persons in OneCoin another significant figure named Karl Sebastian Greenwood, co-founder was sentenced to 20 years of imprisonment in September for his involvement in the scam.

Prosecutors highlighted that from 2014 to 2019, Dilkinska cooperated with Mark Scott, OneCoin’s US-based lawyer, to launder $400 million through Cayman Islands companies that were presented as investments.

In 2019, Scott, a former Locke Lord LLP attorney, was convicted of committing money laundering. He got a 10-year prison term in January of the year.

Dilkinsa begs for leniency in sentencing

The defence of Dilkinska, based on leniency, also mentioned that she spent one year in federal lockup at Brooklyn’s Metropolitan Detention Center (MDC). With the MDC receiving a lot of negative feedback for the conditions, in the letter written to the judge, Dilkinska depicts the MDC as the place where one’s human dignity and vision are torn to shreds.

Judge Ramos also observed her time in MDC, but he allured a slight lenience towards the sentence. Hence, despite her conviction, Dilkinska should act as a reminder to all those who are responsible for this OneCoin fraud: this is the case which is responsible for the financial disaster of many people.

The post Onecoin’s Ex-legal Advisor Receives Four Years in Prison for $4 Multi-Billion Crypto Scam appeared first on Coinpedia Fintech News

With a significant development in the complicated legal situation of the OneCoin cryptocurrency project scheme, Irina Dilkinska who had been the former head of legal and compliance of the fraudulent cryptocurrency was sentenced to four years in prison. 

Dilkinska’s sentencing has come after she stood forth and admitted to playing a role in laundering millions of dollars worth of proceeds from the fraud.

The 42 years old Irina Dilinkska pleaded guilty to fraud and conspiracy to launder money charges in November. Although her lawyer begged for a more lenient sentence and the chance for her to go back to Bulgaria to take care of her two small children, US District Judge Edgardo Ramos dismissed her plea.

Judge Ramos noted during the sentencing that Dilkinska knew she was a smart woman and could understand the consequences of her decisions. He also made her reimburse the $118.4 million as restitution along with one month of supervised release expressing the magnitude of the financial harm wrought by the scam.

Dilkinska’s participation in the OneCoin fraud produces a new page in the legal tug of war against the $4 billion money scheme. OneCoin positioned itself as a cryptocurrency but actually never went through this stage, instead adopted a pyramidal scheme that gave commissions to its members to get others to buy useless OneCoin packages.

One coin under the radar since 2017

The chief financier of this fraud, Ruja Ignatova, aka the “Cryptoqueen” was missing in action since 2017. This was around the time when the investigators started having doubts about OneCoin. Ignatova was on the FBI’s list of Ten Most Wanted fugitives in 2022. 

Among several key persons in OneCoin another significant figure named Karl Sebastian Greenwood, co-founder was sentenced to 20 years of imprisonment in September for his involvement in the scam.

Prosecutors highlighted that from 2014 to 2019, Dilkinska cooperated with Mark Scott, OneCoin’s US-based lawyer, to launder $400 million through Cayman Islands companies that were presented as investments.

In 2019, Scott, a former Locke Lord LLP attorney, was convicted of committing money laundering. He got a 10-year prison term in January of the year.

Dilkinsa begs for leniency in sentencing

The defence of Dilkinska, based on leniency, also mentioned that she spent one year in federal lockup at Brooklyn’s Metropolitan Detention Center (MDC). With the MDC receiving a lot of negative feedback for the conditions, in the letter written to the judge, Dilkinska depicts the MDC as the place where one’s human dignity and vision are torn to shreds.

Judge Ramos also observed her time in MDC, but he allured a slight lenience towards the sentence. Hence, despite her conviction, Dilkinska should act as a reminder to all those who are responsible for this OneCoin fraud: this is the case which is responsible for the financial disaster of many people.