The lawyer, who was guilty of money laundering in November 2019 via the OneCoin cryptocurrency scheme, received a ten-year prison sentence from a federal judge after a hearing on January 25.
Inner City Press reports that on January 25, U.S. District Court for the Southern District of New York Judge Edgardo Ramos sentenced Mark Scott to ten years in prison for his involvement in laundering millions of dollars via OneCoin.
Since his conviction for conspiracy to conduct money laundering and conspiracy to commit bank fraud in November 2019, the attorney has been awaiting sentencing.
The prosecution required Scott to serve a minimum of seventeen years in prison, whereas his legal team suggested a shorter term of five years. Preceding his sentencing, he allegedly conveyed condolences to the victims of OneCoin.
Scott collaborated with OneCoin under the direction of ‘Cryptoqueen’ Ruja Ignatova to launder funds. 2014 marked her co-founding of the cryptocurrency firm with Karl Sebastian Greenwood. Ignatova remained unnoticed at publication despite her alleged involvement in the OneCoin scheme.
In September 2023, Greenwood received a 20-year prison sentence plus $300 million in restitution to the victims of OneCoin, in addition to money laundering and fraud charges.
In November 2023, former OneCoin chief compliance officer Irinia Dilkinska entered a guilty plea on two felony counts. A sentencing hearing has been set for February 2023.
According to reports, Scott’s attorneys planned to petition for parole while considering an appeal of the sentencing decision. Alongside former FTX CEO Sam Bankman-Fried and former Celsius CEO Alex Mashinsky, the OneCoin attorney is among several individuals with ties to cryptocurrency firms who, for their alleged involvement in money laundering or fraud schemes, could face years in prison.
