Lawyer Mark Scott’s $400M Crypto Scam Conviction Upheld
A federal appeals court docket in Manhattan has confirmed the 10-year jail sentence of Mark Scott, a former accomplice on the regulation agency Locke Lord, for his involvement in an almost $400 million cryptocurrency fraud.
As per the 2nd U.S. Circuit Court docket of Appeals, there was sufficient proof to help the 2019 conviction for cash laundering and financial institution fraud conspiracy.
In Could, certainly one of his protection workforce members advised Scott’s trial was unfair as a consequence of lies beneath Oath. Scott was discovered responsible of his involvement within the OneCoin cryptocurrency rip-off. In addition to his 10-year prison sentence, he was ordered to surrender over $392 million, a number of financial institution accounts, a yacht, and two Porsches.
Prosecutors declare Scott met OneCoin creator Ruja Ignatova, a German citizen also referred to as the “Cryptoqueen,” in 2015 and started establishing bogus funding corporations to launder thousands and thousands of {dollars} in legal income in 2016. Scott stated he equipped Ignatova with authorized counsel and was unaware OneCoin was a fraud.
Scott was a world mergers & acquisitions and personal fairness accomplice at Locke Lord from June 2015 till September 2016. A consultant for the corporate beforehand stated that Scott was solely there for a brief interval and that they had been unaware of “his particular person actions exterior of the agency.”
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