Scott Helped OneCoin Launder $400M Funds
Lawyer Mark S. Scott allegedly received $50 million to help Ruja Ignatova, OneCoin co-founder, and current fugitive, in laundering $400 million.
On November 20, a report indicated that the Manhattan U.S. attorney’s office and the New York County district attorney’s office are in the last phase of prosecuting Scott. United States prosecutors told a Manhattan jury that the lawyer allegedly got paid $50 million to launder $400 million of Ignatova – also known as the cryptoqueen.
Aside from that, OneCoin is among the crypto industry’s most notorious exit scams. But still, the Bulgaria-based company runs until now despite the allegations that it raised a whopping $4.4 million in a Ponzi scheme.
Also, U.S. prosecutors are accusing Scott of employing a massive network of fake companies, offshore bank accounts, and fraudulent investment schemes. And this was all to launder more than $400 million in ill-gotten funds.
In addition to that, Prosecutor Julieta Lozano had already said that Scott received other things as compensation for his criminal activities. And these are a 57-foot yacht, three multimillion-dollar homes in Cape Cod, Massachusetts, and luxury cars like three Porches and a Ferrari.
Until now, Scott maintains that he did not know about OneCoin being a scam. But Prosecutor Nicholas Folly revealed that the evidence against him was too overwhelming and obvious.
On the other hand, the defense lawyer of Scott stated to the jury that there are many doubts. And the claim insists that there is no evidence showing Mark Scott believing OneCoin was a scam.
Bitcoin Price Below the Descending Trendline
Moreover, Bitcoin price toppled below its descending trendline to $7,981. Also, the dominance rate of the world’s largest cryptocurrency has dropped to 65.9%. And the growing number of traders appear to be shifting their attention to altcoins. Many are pressing against their long-term descending trendlines and 200-day moving averages.
Then, some crypto-Twitter analysts are now asking for a Bitcoin price drop of $6,000. And the most bearish among them have called for a revisit to the $3,000 range. But Bitcoin’s current price movement does not suggest a drop below $6,000 as a realistic short-term price estimate.
