OneCoin’s legal chief sentenced 4 years for $4.4b crypto fraud

District Judge Edgardo Ramos of the United States has ordered Irina Dilkinska, the former legal and compliance chief of infamous OneCoin, to serve a four-year prison term.

On April 3rd, the U.S. Attorney’s office disclosed that Dilkinska would be sentenced for her role in laundering large sums of money through a deceitful cryptocurrency scheme, which she had confessed to.

After serving her prison sentence at the age of 42, Dilkinska is now required to spend an additional month under supervision. Additionally, she is mandated to relinquish $111 million as part of the restitution plan.

The judge, Ramas, did not grant her plea to stay out of jail in order to look after her small children in Bulgaria.

Ramas emphasized her intelligent grasp of the complex legal consequences of her involvement in the $4.4 billion plan, expressing that she was “an exceptionally intelligent woman who should have been more cautious.”

Previously held high-ranking official was accused of committing wire fraud and money laundering, which could result in a maximum term of five years in prison for each offense. Following her admission of guilt in a New York federal court last November, she stood the risk of serving up to ten years in prison.

The sentencing marks Dilkinska as the latest OneCoin executive to be imprisoned.

In September 2023, Karl Sebastian Greenwood, one of the scheme’s co-founders, was given a prison sentence of twenty years due to his role in fraud and money laundering schemes. Additionally, he was ordered to pay back three hundred million dollars as restitution.

In 2014, Ruja Ignatova, often referred to as “Cryptoqueen,” and her partner Greenwood established OneCoin. They advertised this company to investors with the promise of profitable returns through a fabricated cryptocurrency named “OneCoin.”

Further examinations revealed that OneCoin did not have a genuine blockchain, unmasking it as a pyramid scheme that relied on continuous influx of new investors for survival.

Despite being unmasked as a fraud in the year 2015, OneCoin still raked in over $4.3 billion in earnings and almost $3 billion in profits from 2014 to 2016.

Since October 2017, Ignatova has been absent, having vanished not long after a warrant for her arrest was made public by federal authorities. This disappearance has fueled curiosity and rumors regarding her current situation, following the deaths of several OneCoin associates in Mexico during that year.

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2024-04-04 13:06