A Manhattan federal jury has found lawyer Mark S. Scott guilty of helping OneCoin co-founder and current fugitive Ruja Ignatova launder $400 million.

On Nov. 21, Law360 reported that the Manhattan jury of six women and six men decided to hand down a guilty verdict to Scott, a former partner at law firm Locke Lord who was suspected of being paid $50 million to launder $400 million for Ignatova, also known as the “cryptoqueen.”

Claim of innocence was rejected

The jury did not buy Scott’s claim that he had no knowledge that OneCoin was a scam and that he was only doing his best as Ignatova’s lawyer to represent her interests. They arrived at their guilty verdict in only four hours. 

Cointelegraph reported yesterday that OneCoin is considered to be among the crypto industry’s most infamous exit scams. Scott reportedly used a wide network of fake companies, offshore bank accounts and fraudulent investment schemes to launder the ill-gotten funds.

To date, the Bulgaria-based firm remains operational despite investigators’ allegations that it raised $4.4 billion in a Ponzi scheme.

Cryptoqueen’s brother speaks against her

In March 2019, Ignatova’s brother and co-founder of crypto scam OneCoin, Konstantin Ignatov, was arrested at Los Angeles International Airport. He pleaded guilty to the participation in the multi-billion dollar fraud and money laundering. In November Ignatov signed a plea deal and now faces up to 90 years in prison.

Ignatov, who also testified in the trial against Scott, reportedly provided more details against his sister, saying that she had obtained a passport and tickets to Austria and Greece from her home in Bulgaria. However, to date, the cryptoqueen remains at large.

Ignatov reportedly also told law enforcement agencies that his sister informed him that she had the support and protection of a “rich and powerful” Russian individual.

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