Sentencing for the co-founder of the key crypto rip-off OneCoin has been postponed for an extra three months on the request of the USA authorities
Sentencing for the co-founder of the key crypto rip-off OneCoin has been postponed for an extra three months on the request of the USA authorities.
On April 7, the New York Southern District Courtroom accepted a movement to adjourn the sentencing management date for Konstantin Ignatov, brother and confederate of OneCoin co-founder and present fugitive Ruja Ignatova, a.okay.a the “Cryptoqueen.”
Initially set for April 8, Ignatov’s sentencing date will now happen on July 8, 2020.
Ignatov’s cooperation as a witness
As reported, OneCoin is among the many trade’s most notorious exit scams. Based in 2014, the Bulgaria-based agency remained absolutely operational till late November 2019, regardless of ongoing felony proceedings within the wake of allegations that it had fraudulently raised not less than Four billion euro ($4.Four billion) in a Ponzi scheme.
Following his arrest at Los Angeles Worldwide Airport in March 2019, Ignatov pled responsible to collaborating within the multi-billion greenback fraud in fall 2019. He faces as much as 90 years in jail.
Along with his sister nonetheless on the run, he has served as a cooperating witness within the trial towards Mark Scott, the lawyer who allegedly helped launder almost $400 million through the rip-off.
In its April 6 letter, the U.S. authorities claimed that Ignatov’s cooperation was “not but full.” In addition to requesting adjournment, the federal government sought to unseal a sequence of paperwork and famous that the protection had consented to its utility.
Persistent allegations
As reported, Ignatov has beforehand testified that after his sister had fled, the safety personnel who accompanied her advised him that she had met with Russian audio system. One investigative journalist has since alleged that Ignatova claims to have the help and safety of an unnamed “wealthy and highly effective” Russian particular person.
In November 2019, Mark Scott was discovered responsible of serving to Ignatova to launder the ill-gotten OneCoin funds through a large community of faux corporations, offshore financial institution accounts and sham funding schemes.