• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
Could the Telegram, SEC $1.7 Billion ICO Row Be Over Soon?

OneCoin Scam Update: Bank of Ireland Officials Set to Appear in US Court

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in News, News teaser
0

Officials of the Bank of Ireland (BOI) are set to testify against a principal actor in the alleged OneCoin crypto Ponzi scam before a U.S. court.


BOI Employees to Point the Finger at OneCoin Principal Actor

According to FinanceFeeds, four past and present employees of the BOI will serve as witnesses for the U.S. government in its case against Mark Scott. Together with Konstantin Ignatov and Ruja Ignatov, Scott stands accused of money laundering in the OneCoin Ponzi scheme.

Diane Sands — one of the four witnesses, is the anti-money laundering (AML) chief at the BOI. According to reports, Scott helped funnel over $300 million from the OneCoin scam using the BOI.

Scott allegedly maintained a corporate account with the bank and used this relationship to misrepresent the source of funds to BOI officials. Greg Begley — the fourth witness, is expected to submit crucial evidence tying Scott to the fund transfers.

In total, Scott stands accused of funneling more than $400 million in proceeds from the OneCoin scam. Scott also reportedly diverted some the money to purchase personal luxury items like mansions, yachts, and high-end cars.

All four witnesses will testify before the court via two-way CCTV from an undisclosed location. Scott’s trial will reportedly commence in early November 2019.

The prosecution at the start of September secured an adjournment pushing proceedings from October 7 to its new date in November to prepare adequately for the trial.

Back in June 2019, OneCoin chief Konstantin Ignatov pleaded “not guilty” to charges of conspiracy to commit wire fraud.

End of the Road for Suspected Crypto Fraudsters?

‘Cryptoqueen’ and face of the OneCoin scam Ruja Ignatov disappeared in 2017 and remains at large. Before her going off the grid, she evangelized the fraudulent scheme in several countries around the world. Ruja has since been served in absentia with a similar charge of money laundering.

OneCoin, arguable one of the largest crypto Ponzi schemes in history reportedly defrauded its victims of more than $4.9 billion from thousands of investors. As previously reported by Bitcoinist, one victim even lost $103,500.

In many ways, the OneScam mirrors the popular Russian Mavrodi Mondial Moneybox (MMM) Ponzi scheme. Thus, even after reports of the fraud appearing on the news circuit, the scheme manages to resurface defrauding even more unsuspecting victims.

Do you think law enforcement will eventually catch up with Ruja Ignatov? Let us know in the comments below.


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

Crypto.ro and Binance Unveil the 3rd Binance Meetup in Romania, Set in Timisoara

2 weeks ago
Gemini

Gemini To Launch Non-US Crypto Derivatives Platform

1 month ago
Nasdaq

Nasdaq Targets Mid-2023 For Crypto Custody Launch

2 months ago
Crypto.Com Became The10th Largest BONE Holder

Crypto.Com Became The10th Largest BONE Holder

2 months ago
Hong Kong

Hong Kong Set To Welcome Prominent Crypto Data Firm

3 months ago
crypto conference the alliance

Crypto.ro Announces “The Alliance,” a Highly Anticipated Crypto Conference in 2023

3 months ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    3 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    3 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    4 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Sphere Financial Inc: Transforming the World of Finance...

    9 hours ago
  • As Whales’ accumulation of Ethereum (ETH) skyrockets...

    10 hours ago
  • Strategic Crypto Investments: 5 Coins to Watch in 2023

    10 hours ago
  • Ethereum (ETH) Holders Eye InQubeta (QUBE) Presale as...

    11 hours ago
  • Why InQubeta’s (QUBE) Innovative Technology Could...

    16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.