Trial of Former OneCoin Lawyer Kicks Off In New York

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The trial of an American lawyer accused of laundering money for the notorious OneCoin pyramid scheme, began in New York yesterday. The lawyer is the first of three key players in the scam to face trial. However the founder, self-styled Crypto-Queen, Ruja Ignatova, is still on the run. Defendant Denies Any Wrongdoing The lawyer, Mark Scott, formerly a partner at Locke Lord LLP, denies moving hundreds of millions of dollars from the OneCoin scheme into offshore accounts. He was arrested just over a year ago, for his role in the multi-billion dollar global pyramid scheme. Formal charges of conspiracy to commit money laundering and bank fraud were brought last month, when Scott plead ‘not guilty’. His defence is likely to hinge on his claim that, although he did move millions of dollars through the scheme, he was unaware that it was a criminal scheme. He even claims to have raised…

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