Cryptocurrencies

OneCoin scam lawyer has been struck off the bar – thecointribune

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A movie about the OneCoin scam is coming to Hollywood. Will Ruja Ignatova’s lawyer Mark Scott have a role in this film?

Scott has other things to worry about right now. His client is still running after being struck off the bar.

The condemned lawyer, the condemned at liberty

A panel of 5 judges from theNew York State is in favor of striking off the bar of Mark Scott.

The former lawyer of Locke Lord LLP was convicted of bank fraud and money laundering.

The practice of law in any form in theNew York State and appearing as a lawyer or legal advisor before any public authority is prohibited.

Ruja Ignatova was sentenced in November 2019 but has remained untraceable since 2017, when the losses suffered by investors amount to billions of dollars.

Scott protested the move, arguing that he had a pending post-trial petition requesting either an acquittal or a new trial.

The judges rejected his arguments, saying that if his post-trial request is approved, he can seek the cancellation of this sanction.

Onecoin: the summary of the film

OneCoin was founded in 2010 following a pyramid selling system paying in commissions, people who brought new investors to the platform.

But these investments most often ended up in the private accounts of ’Ignatova and his relatives.

Observers had come to realize thatOneCoin did not have a blockchain.

Scott is accused of aiding the laundering of 400 million dollars on behalf ofIgnatova ; he would have collected $ 50 million in fees, which he would have spent on the acquisition of real estate, cars and boats.

Scott, released from prison on medical grounds, is awaiting a conviction due in December 2020.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

How does Ruja Ignatova react to the legal misadventures of her former fellow travelers? Should Mark Scott have taken the powder as well? John McAfee, currently in prison, will still be able to follow his example on the Cryptoqueen’s run if he decides to upset the American judicial authorities. Mark Scott may have been struck off the bar by New York judges, but that in no way detracts from his legal skills. He will certainly continue to maneuver in the justice system to obtain release and be fully rehabilitated. He certainly does not intend to stay behind bars but rather return to the bar.

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