OneCoin’s Head of Legal Pleads Guilty to Wire Fraud and Money Laundering Charges
Irina Dilkinska, the head of legal and compliance for OneCoin, has pleaded guilty to wire fraud and money laundering charges in connection with the $4 billion crypto scam. The US District Judge Edgardo Ramos accepted Dilkinska’s guilty plea this week.
The Scam and Its Founders
The fraudulent pyramid scheme dates back to 2014 when Ruja Ignatova and Karl Sebastian Greenwood co-founded OneCoin, a Bulgarian-based company that promoted a cryptocurrency bearing the same name. Despite claiming $2.91 billion in profits between Q4 2014 and Q4 2016, it was operating as a multi-level marketing network, deceiving over three million investors and generating $4.3 billion in sales revenue.
Dilkinska’s Involvement
Despite her title as the Head of Legal and Compliance for OneCoin, Dilkinska actively participated in the scam’s operations and facilitated money laundering, including transferring $110 million in fraudulently obtained proceeds to a Cayman Islands entity.
Legal Actions Against Other Key Players
Karl Sebastian Greenwood has already been sentenced to 20 years imprisonment for his involvement. Meanwhile, Ruja Ignatova faced charges related to OneCoin fraud and money laundering in the Southern District of New York in 2017 before disappearing after traveling from Sofia to Athens on October 25, 2017.
Possible Fate of Ignatova
Ignatova has not been seen publicly since her disappearance, with speculation from certain Bulgarian sources suggesting she may have been brutally killed in 2018 at the directive of a local drug lord.
Hot Take: Justice Served But Questions Remain
While Irina Dilkinska’s guilty plea represents a step towards justice for victims of the OneCoin scam, the fate of Ruja Ignatova remains shrouded in mystery. The case serves as a cautionary tale about the risks associated with investing in cryptocurrencies and the need for stringent regulatory oversight within the industry.
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