{"id":15765,"date":"2019-11-22T10:56:50","date_gmt":"2019-11-22T09:56:50","guid":{"rendered":"http:\/\/www.fiveminutesspare.com\/news\/?p=15765"},"modified":"2019-11-22T11:00:14","modified_gmt":"2019-11-22T10:00:14","slug":"onecoin-lawyer-found-guilty","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/news\/onecoin-lawyer-found-guilty\/","title":{"rendered":"OneCoin Lawyer Found Guilty"},"content":{"rendered":"<p><strong>A jury has found that New York resident Mark Scott was heavily involved in routing approximately $400m (\u00a3310m) out of the US while actively trying to conceal the source of the funds.<\/strong><\/p>\n<p>According to Scott&#8217;s lawyers, he had no idea that OneCoin was worthless, whilst making $50 million by all accounts.<\/p>\n<p>His lawyers added that he was just &#8220;doing the job asked&#8221; by Dr Ruja Ignatova, a co-founder of OneCoin.<\/p>\n<p>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.<\/p>\n<p>Investigators believe as much as \u00a34bn was made during the duration of OneCoin&#8217;s operation, which turned out to be a Ponzi scheme, with investors and clients all over the world losing money.<\/p>\n<div style=\"width: 634px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ichef.bbci.co.uk\/news\/624\/cpsprodpb\/8134\/production\/_109667033_667031.jpg\" alt=\"Dr Ruja Ignatova\" width=\"624\" height=\"351\" \/><p class=\"wp-caption-text\">Dr Ignatova<\/p><\/div>\n<p>&#8220;OneCoin used the success story of Bitcoin to induce victims to invest under the guise that they, too, could get rich through their investments,&#8221; prosecutors said.<\/p>\n<p>&#8220;This was, of course, completely false because the price of OneCoin was a fiction and not based on supply and demand.&#8221;<\/p>\n<p>Dr Ignatova, a key founded is wanted by police, but disappeared around October 2017, with not a confirmed sighting since.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A jury has found that New York resident Mark Scott was heavily involved in routing approximately $400m (\u00a3310m) out of the US while actively trying to conceal the source of the funds. According to Scott&#8217;s lawyers, he had no idea that OneCoin was worthless, whilst making $50 million by all accounts. His lawyers added that&#8230;<\/p>\n","protected":false},"author":57,"featured_media":15766,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[34,6,8],"tags":[556,1727,1730,1770,208,71,1752,98,179,156,1229],"class_list":["post-15765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-us-canada-news","category-worldwide-news","tag-crime","tag-crime-news","tag-cryptocurrency-news","tag-cyrpto-news","tag-fraud","tag-news","tag-onecoin","tag-us","tag-us-news","tag-usa","tag-usa-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/15765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/comments?post=15765"}],"version-history":[{"count":1,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/15765\/revisions"}],"predecessor-version":[{"id":15767,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/15765\/revisions\/15767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media\/15766"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media?parent=15765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/categories?post=15765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/tags?post=15765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}