OneCoin Crypto Scam Update: BOI Officials Will Testify In US Court

OneCoin crypto scam is still developing after the officials of the Bank of Ireland are set to testify in front of a US court as we are about to read in the latest crypto news today.

According to the Finance Feeds, the past four and present employees of the BOI will serve as witnesses for the U.S. Government in the case against Mark Scott. Along with Konstantin Ignatov and Ruja Ignatov, Scott is accused of money laundering in the OneCoin crypto scam Ponzi scheme. Diane Sands, who is one of the witnesses, is the anti-money laundering chief at the Bank of Ireland and according to the reports, Scott helped steal more than $300 million from the OneCoin crypto scam using the bank. Scott reportedly maintained a corporate account with the bank and used the relationship to misrepresent the source of the funds to the officials of the bank.

Greg Begley, another witness in the story, is also expected to submit crucial evidence that will tie Scott to the fund transfers. Overall, Scott stands accused of draining more than $400 million in proceeds from the OneCoin crypto scam. Scott also diverted some money in order to purchase personal luxury items such as yachts, cars, and mansions. All of the witnesses will testify before the court via the two-way CCTV from a secret location. Scott’s trial will commence at the beginning of November 2019.

Back in June this year, the OneCoin chief Konstantin Ignatov pleaded ‘’not guilty’’ to the charges of conspiracy to commit wire fraud. As previously reported in the best cryptocurrency news sites, the face of OneCoin crypto scam Ruja Ignatov or better known as the ”CryptoQueen”, disappeared in 2017 and is still not found. OneCoin is arguably the biggest and most widely known crypto Ponzi schemes in the history of crypto scams and which managed to defraud victims of more than $4.9 billion from thousands of investors. One victim even lost more than $103,500 to the scam. This scam is very similar to the Russian Mavrodi Mondial MoneyBox and as the news appeared again, the scheme managed to resurface defrauding more victims out of their money.