The sentencing of Mark Scott, a licensed attorney who laundered $400 million for the infamous OneCoin Ponzi scheme, has been adjourned until July 14, 2020.
On April 25, Judge Edgardo Ramos of the New York Southern District Court reportedly granted Scott’s request for the hearing’s rescheduling due to his “need to get further medical testing.”
Scott was delivered a guilty verdict during November 2019, however, appealed the decision in February.
During mid-February, the U.S. Government requested a three-week adjournment of the deadline for its response to Scott’s request for acquittal earlier that month.
Scott has claimed that the OneCoin cryptocurrency is “mined” using mining servers maintained and operated by the company, and that the value of OneCoin is based on market supply and demand. The purported value of a OneCoin steadily grew from €0.50 to approximately €29.95 per coin, as of in or about January 2019. In fact, the value of OneCoin is determined internally and not based on market supply and demand, and OneCoins are not mined using computer resources. .He also claimed that the case saw no testimony from witnesses involved in OneCoin sales, arguing that the case was based exclusively on the testimony of cooperating witness and OneCoin co-founder, Konstantin Ignatov.
Scott also claimed not to have been aware that OneCoin was a scam until May 2018, stating that he believed that the OneCoin blockchain was real.
In March, the Government filed its opposition to Scott’s motion, asserting that Scott was aware that he had profited $50 million from assisting the operators of a scam to launder $400 million in ill-gotten gains. Scott used his profits to purchase luxury vehicles, a yacht, and several waterfront properties.
Earlier this month, Ignatov’s sentencing was also postponed until July. Ignatov’s sister, Ruja Ignatova, a.k.a the Cryptoqueen, remains at large after having fled her home in Bulgaria during 2017.
On April 22, it was reported that top OneCoin recruiter, Le Quoc-Hung, had been spotted promoting a near-identical Ponzi scheme called ‘OneLink.’
After Ignatov’s arrest in 2017, Quoc-Hung positioned himself as the captain of OneCoin’s OneLife network — which he has since used to tout his new scheme.