On Jan. 25, a federal judge sentenced a lawyer involved in the OneCoin cryptocurrency scheme to a decade in prison.

Reported by Inner City Press, Judge Edgardo Ramos of the Southern District of New York handed down the sentence to Mark Scott, convicted in 2019 of conspiring to commit bank fraud and money laundering.

Prosecutors had sought a minimum of 17 years, while his defense recommended five years. Scott expressed remorse for the victims of OneCoin.

Scott was implicated in laundering money for OneCoin, co-founded by "Cryptoqueen" Ruja Ignatova and Karl Sebastian Greenwood.

Greenwood received a 20-year sentence in 2023, while Ignatova remained at large. Irinia Dilkinska, former OneCoin compliance officer, also pleaded guilty and awaited sentencing.

Scott's legal team planned to appeal the sentence, and the case highlights the potential severe consequences for individuals involved in crypto-related fraud and money laundering.

Sources:

https://cointelegraph.com/news/onecoin-lawyer-sentenced-prison

https://twitter.com/innercitypress/status/1750620382791430158

https://twitter.com/innercitypress/status/1750619890786927098