Scott Guilty of Helping Cryptoqueen

Lawyer Mark S. Scott was guilty of helping OneCoin’s co-founder and current fugitive Ruja Ignatova, a Manhattan federal jury declared.

In a recent report, the lawyer allegedly got paid $50 million to launder $400 million for Ignatova, popular as the cryptoqueen.

But on November 21, the Manhattan jury of six women and six men chose to hand down a guilty verdict to law firm Locke Lord’s former partner.

Moreover, the jury rejected the claim of Scott. And this is where he insists that he has no idea at all that OneCoin was a scam. And he is only doing his best as the lawyer of Ignatova to represent her interests. After four hours of discussion, they came up with their guilty verdict.

In a previous report, OneCoin is a part of the crypto industry’s most infamous exit scams. And Scott had a wide range of fake firms, offshore bank accounts, and fraudulent investment schemes to launder the funds.

Despite that, the Bulgaria-based company remains operational amidst investors’ allegations about raising a $4.4 billion from a Ponzi scheme.

R3 CEO on the Announcement of Facebook

Elsewhere, Blockchain firm R3’s CEO has criticized the way Facebook announced its yet-to-be-released Libra stablecoin.

In addition to that, David Rutter, the CEO of enterprise software R3, stated that the introduction of Libra this summer was “ridiculously stupid.”

After that, skepticism around the upcoming Libra stablecoin of Facebook continues to rise.

Rutter gave those comments during a recent company conference in London. And he admitted that the plan of Facebook to release their own cryptocurrency made policymakers and financial regulators antsy to speed up the examination of blockchain and crypto application.

But he also said the goal of Facebook in entering the financial systems world was “really naive.”

Rutter explained, “When we saw (Facebook) talking about doing a basket of currencies with weighting, in reality, when we want to translate that back to real-world currencies, it’s not simple.”