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Mark Scott, a former attorney and OneCoin crypto scheme money launderer has been sentenced to 10 years in prison after being convicted of conspiracy to commit bank fraud and money laundering in 2019. 

A federal judge sentenced Mark Scott, a lawyer responsible for laundering money through the OneCoin crypto scheme, to 10 years in prison following a January 25 hearing. Scott was convicted of two felony counts related to bank fraud and money laundering in 2019. 

Supported a Lavish Lifestyle

According to reports by the Inner City Press, Judge Edgardo Ramos sentenced Mark Scott to 10 years imprisonment for his role in the controversial OneCoin crypto scheme. Scott has been awaiting sentencing since his conviction of conspiracy to commit bank fraud and money laundering in 2019. He is accused of laundering $400 million from the OneCoin project to support a lavish lifestyle. It was found that Scott personally profited around $50 million for his money laundering activities.

According to reports by Bloomberg Law, Scott is “one of the most prolific money launderers ever prosecuted.” 

OneCoin was founded by the infamous “Cryptoqueen” Ruja Ignatova in 2014. The scam would incentivize buyers with a commission if they managed to sell the OneCoin cryptocurrency to more people – essentially a pyramid scheme that swindled over $4 billion from investors. Ignatova has not been seen in six years and has been placed on the

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Author: Jana Serfontein

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