Former OneCoin Compliance Chief Pleads Guilty to Fraud and Money Laundering Charges
The former compliance chief of OneCoin, a cryptocurrency scheme that defrauded investors out of $4 billion, has pleaded guilty to wire fraud and money laundering charges in Manhattan federal court. In a Nov. 10 statement by the Department of Justice (DOJ), U.S. District Judge Edgardo Ramos accepted Irinia Dilkinska’s guilty plea.
“Head of Legal and Compliance” for multibillion-dollar cryptocurrency pyramid scheme “OneCoin” pleads guiltyhttps://t.co/E656236UXh
— US Attorney SDNY (@SDNYnews) November 9, 2023
Dilkinska pled guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit laundering, each carrying a maximum potential sentence of five years in prison. According to U.S. Attorney Damian Williams, Dilkinska facilitated the laundering of millions of dollars of illicit profits OneCoin accrued through its multi-level-marketing scheme.
Dilkinska’s Role in Money Laundering
The prosecution found that despite her role as the head of compliance for OneCoin, Dilkinsa played a key role in laundering money for the scheme. She facilitated the transfer of $110 million in fraudulently obtained proceeds to an entity in the Cayman Islands.
Sentencing and Background on OneCoin Scheme
Dilkinska’s sentencing is scheduled for Feb. 14, 2024, where she faces a maximum sentence of 10 years in prison for her role in the OneCoin scheme. OneCoin was founded in 2014 by “Cryptoqueen” Ruja Ignatova and Karl Sebastian Greenwood. Ignatova remains at large after going missing in October 2017 following a federal warrant for her arrest.
OneCoin’s Fraudulent Activity
OneCoin was exposed as fraudulent in 2015 but still managed to generate over $4.3 billion in revenue, recording profits of nearly $3 billion between Q4 2014 and Q4 2016.
Hot Take: Former Compliance Chief’s Guilty Plea Exposes Extent of OneCoin Scheme
The guilty plea by former OneCoin compliance chief Irinia Dilkinska sheds light on the extensive money laundering and fraud within the cryptocurrency scheme. Despite her position, Dilkinska played a significant role in facilitating the transfer of millions of dollars in illicit profits. This development further underscores the criminal activities associated with OneCoin, which continues to have lasting repercussions within the crypto industry.
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