A US federal court yesterday sentenced to 10 years in prison the lawyer of cryptocurrency pyramid OneCoin, accused of laundering $400 million, InnerCityPress has reported.
In particular, Mark Scott has been found guilty of conspiracy to commit bank fraud and money laundering.
The prosecution has said:
"Indeed, Scott accomplished his goal, but by fraud and deception, and will now spend a decade in prison and has been ordered to forfeit all of his illegal proceeds."
Scott has said prior to the announcement of the verdict that he "sympathizes with the victims of OneCoin." According to his lawyers, he intends to apply for bail while he appeals the sentence.
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OneCoin was a financial pyramid founded in 2014 by Ruja Ignatova.
The project was presented as a highly profitable crypto, where investors earned profits not only from the growth of the asset, but also from attracting new participants.