In a recent development within the OneCoin cryptocurrency saga, a former lawyer, Mark Scott, has faced a stringent legal reckoning. Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York has sentenced Scott to 10 years in prison. This outcome follows his 2019 conviction on conspiracy charges to commit bank fraud and money laundering.
OneCoin’s Lawyer Criminal Deceit
Scott’s descent from a legal professional to a convicted felon is a move gone awry. Employed as a partner at the law firm Locke Lord from June 2015 to September 2016, Scott seemed to have a great career . However, his involvement with OneCoin and its founders, Ruja Ignatova and Karl Sebastian Greenwood, marked his downfall.
Prosecutors, as a result, revealed that Scott was instrumental in laundering millions for OneCoin starting in 2016. His efforts in setting up fake investment funds to move the illicit proceeds were pivotal to the operation. Scott received over $50 million for his service
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