Bush Received 300k From OneCoin Meeting

Neil Bush allegedly received $300,000 to go to a meeting with OneCoin’s co-founder and current fugitive Ruja Ignatova, called the “Cryptoqueen.”

On November 15, testimony in the U.S. District Court for the Southern District of New York contained allegations against Neil Bush.

Furthermore, Mark Scott, a former Lock Lorde LLP attorney, is a recently standing trial for allegedly conspiring with Ignatova and her brother, Konstantin Ignatov, on OneCoin. He maintains that he saw the scheme as a legal business.

In addition to that, the FBI interviewed Neil Bush. And this was because of his part as a board member of Hoifu Energy, owned by Dr. Hui Chi Ming, a wealthy Chinese businessman.

Allegedly, one of the companies of Dr. Ming has made a $60 million loan to purchase an African oil field. Moreover, Scott’s counsel has subsequently insisted that the indirect involvement of Bush with the deal contributed to Scott’s feeling confident enough to do business with those behind it.

In addition to that, they will finance the oil filed deal in cash and a massive part of the purchase price in OneCoin. During the trial, they revealed the details of the FBI’s interview with Bush. Garvin stated, “Bush recalled that the head of Hoifu Energy, Dr. Hui Chi Ming, received a bunch of cryptocurrency for an oil deal in Madagascar.”

Aside from that, he also said that Bush has a residual interest in the cryptocurrency from the oil deal. And Bush also met the woman from the cryptocurrency firm. This was in Hong Kong with Dr. Hui.

After that, Garvin indicated they paid Bush $300,000 for his presence and participation.

Moreover, in the report of the FBI, they noted that Hui allegedly promised Bush at least 10% of the sale. This was if Hui successfully sells the cryptocurrency. But the deal fell apart.

 

The Fate of Bitcoin

Elsewhere, Bitcoin (BTC) is showing a significant decline over the past seven days, dropping over 5%. Some analysts consider the latest fall in the market to expose Bitcoin to a potential return to $7,400.

On the other hand, other analysts are suggesting that the recent trading of Bitcoin is usually a bullish pattern that has a success rate of breaking to the upside in about 68% of cases.