OneCoin's Legal and Compliance Head, Irina Dilkinska, yesterday (Thursday) pled guilty to the charges of wire fraud and money laundering brought against her by the US federal prosecutors. She was arrested in Bulgaria and was extradited to the United States earlier this year.
Compliance Head Laundered Money
Although Dilkinska was responsible for ensuring that OneCoin complied with the law, she laundered money for the multi-billion dollar crypto scam. The complaint against her highlighted that she arranged the transfer of $110 million fraudulently obtained OneCoin proceeds to an entity in the Cayman Islands.
"As OneCoin's so-called 'Head of Legal and Compliance' Irina Dilkinska accomplished the exact opposite goal of her position," US Attorney Damian Williams said in a statement. "As she has now admitted, Dilkinska facilitated the laundering of millions of dollars of illicit profits OneCoin accrued through its multi-level-marketing scheme."
Authorities Busting the Largest Crypto Scam
OneCoin is purported to be the largest cryptocurrency scam ever pulled, as victims around the globe invested over $4 billion. Based in Bulgaria, it operated as a multi-level marketing scheme, defrauding victims even in the remotest Pacific islands.
According to available records, OneCoin generated €4.037 billion in sales revenue between the fourth quarter of 2014 and the fourth quarter of 2016, earning €2.735 billion in profits.
The US authorities have busted several top OneCoin associates. Recently, the fraudulent scheme's Co-Founder, Karl Greenwood, was sentenced to 20 years in prison following his guilty plea for wire fraud. Mark Scott, a lawyer who laundered $400 million for OneCoin, was among the first to be convicted and was recently denied a new trial.
Meanwhile, OneCoin's mastermind, Ruja Igantova, aka 'Cryptoqueen', is still at large. She disappeared from public view in October 2017 after reaching Greece on a commercial flight from Bulgaria. Her name is now on the FBI's top ten "Most Wanted" person list, with a reward of $100,000 for any information leading to her arrest. In addition, she is on the list of Europe's most wanted fugitives.
"The dedicated prosecutors of this Office and our law enforcement partners will continue to pursue this important case until every defendant is brought to justice," Williams added.
This article was written by Arnab Shome at www.financemagnates.com.
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