Tom Arran Tom Arran, Tuesday 12th November 2019, 2:56 PM CET
OneCoin Scam

New OneCoin Scam Details Revealed

Evidence regarding the OneCoin Scam has become a regular headline for cryptocurrency enthusiasts. Recently, the United States Government determined that this marketing scam stole $4 Billion. However, Jamie Bartlett from the BBC has refuted these claims. Through his podcast, The Missing Cryptoqueen, he cited that the estimations from America are far below their estimated figure.

Jamie’s podcast is dedicated to this scam and finding RujaIngatova, the Co-Founder of OneCoin that began this scam. Jamie believes the value 3x higher than the $4 billion claimed by American Authorities. Documents in Bartlett’s possession indicate that this was the figure stolen directly from America, but not globally.

The Bloomberg report noted that this scam generated more than €3.4 Billion for two financial years between 2014 and 2018. This was at a time when they had more than three million users worldwide. However, the Bloomberg Report followed the same contents that America Authorities maintained. The new documents in possession of Jamie Bartlett will be released to the proper authorities in the coming days.

OneCoin was created by two siblings, Ruja and Konstantin Ignatov. The two has been missing since 2017 when the scam was publicly revealed. Konstantin has considered the Crypto Queen, and her brother the King.

Authorities charged both, but neither appeared in court. However, Konstantin would be arrested at LA International Airport. Her brother remains at large, which could come to an end shortly with his sister testifying for government authorities.

OneCoin’s Secret Lawyer

Another recent development in the case against OneCoin is Mark Scott, the Attorney for OneCoin that’s based in the United States. He’s been accused of laundering and filtering the money held by the Ignatov siblings to dozens of shell companies. Claims against Mark Scott extended to him laundering money with offshore bank accounts and processing $400 Million in illegally-generated investment schemes.

Since that reveal, Mark Scott has already appeared in court and faced off against Julieta Lozano. The Prosecutor noted that through the exchange of illegal services, this man purchased several luxurious cars and three multi-million dollar homes. This lawyer has currently pleaded not guilty, under the intention that he wasn’t aware of the criminal scheme OneCoin was operating.

Julieta Lozano, the Prosecutor against Mark Scott, spoke in court. She stated: “The central issue at trial will be whether or not Mr Scott knew OneCoin was operating a criminal scheme.”

The Founder of Inner City Press Investigative Journalism, Matthew Russel Lee, spoke on this manner with reporters. He said: “Claims of not knowing that something was wrong are undercut by the evidence he would only speak with RujaIgnatova on a ‘crypto-phone’ and in some cases, only in person.”

What happens now for Mark Scott, Ruja Ignatov and Konstantin Ignatov is unknown. Right not it’s known that the London Police in England share the same views of government law enforcement. Anyone who has been victimized by this scam can contact the Fraud Action Department in the United Kingdom.

Tom Arran

Author: Tom Arran

Tom has over 10 years experience on crypto currencies, first mining bitcoin on an old university computer for 20 cents a coin to now day trading bitcoin in between helping to start whichbroker.com. Tom has previously held roles at a leading EU brokerage and provided insight and consultancy work for number of UK banks in Crypto. Tom Arran can be contacted at [email protected], View all posts by Tom Arran

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