Nemesis seems to be catching up with those who were involved in the multi-billion dollar OneCoin cryptocurrency scam. The latest to receive a jail term from the United States authorities is Irina Dilkinska, the ex-head of Legal and Compliance at OneCoin.

OneCoin Scam: In-house Lawyer Bags Jail Term 

Damian Williams, the United States Attorney for the Southern District of New York announced that Dilkinska has been sent to four years in prison. 

The verdict was given by U.S. District Judge Edgardo Ramos concerning her involvement in the scam that cost many investors millions of dollars in losses. 

As the company’s legal representative, the U.S. authorities recognize the part she played in the scheme as a flagrant breach of conduct.  

“Rather than upholding the law and embracing her position as the Head of Legal and Compliance, she facilitated and committed money laundering, aiding in the exploitation of millions of victims,” Attorney Wiliams added.

OneCoin, co-founded by Ruja Ignatova and Karl Sebastian Greenwood, started in 2014 as a crypto project based in Sofia, Bulgaria. It wasn’t long after its launch that the firm began to advertise a fraudulent pyramid scheme to investors. 

In the long run, some users invested about $4 billion but they were scammed in the end.

OneCoin Executives Paying for their Crimes

With the scheme finally exposed, Dilkinska pleaded guilty to wire fraud and money laundering charges. There were speculations that she could get as much as five years for each count which she pleaded guilty to. 

Earlier in 2024, a former lawyer called Mark Scott, also received a 10 years in prison sentence from Judge Ramos for setting up fake investment funds to move the illicit proceeds from the OneCoin scheme. Sebastian is currently serving a 20-year jail term for being the mastermind behind the entire scam.

CryptoQueen, as Ignatova is called, remains at large but the authorities have promised to “hold accountable every perpetrator of the OneCoin scheme, no matter where they may hide.” 

The search for Ignatova has intensified with the FBI on her tail and she has been placed on the Top Ten Most Wanted List with a $100,000 reward for information leading to her arrest

The post OneCoin Crypto Scam Co-Conspirator Bags 4-Year Jail Term appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am