A jury has found that New York resident Mark Scott was heavily involved in routing approximately $400m (£310m) out of the US while actively trying to conceal the source of the funds.
According to Scott’s lawyers, he had no idea that OneCoin was worthless, whilst making $50 million by all accounts.
His lawyers added that he was just “doing the job asked” by Dr Ruja Ignatova, a co-founder of OneCoin.
Those arguments were rejected by the jury in the end, and Mr Scott was found guilty of conspiracy to commit money laundering and bank fraud.
Investigators believe as much as £4bn was made during the duration of OneCoin’s operation, which turned out to be a Ponzi scheme, with investors and clients all over the world losing money.
Dr Ignatova
“OneCoin used the success story of Bitcoin to induce victims to invest under the guise that they, too, could get rich through their investments,” prosecutors said.
“This was, of course, completely false because the price of OneCoin was a fiction and not based on supply and demand.”
Dr Ignatova, a key founded is wanted by police, but disappeared around October 2017, with not a confirmed sighting since.
