In a significant development in the complex legal battle surrounding the OneCoin cryptocurrency project, Irina Dilkinska, who served as head of legal and compliance for the fraudulent venture, was sentenced to four years in prison. .
Dilkinska's sentencing follows her admission of involvement in the laundering of millions of dollars worth of money from the fraud scheme. The 42-year-old pleaded guilty to fraud and money laundering conspiracy in November, marking a significant step in the ongoing legal pursuit against OneCoin.
The plea was denied
Despite her lawyer's pleas for a lighter sentence, including the chance to return home to care for her two young children in Bulgaria, U.S. District Judge Edgardo Ramos remained resolute.
He emphasized that Dilkinska, being an intelligent person, understood the seriousness of his actions. As part of her sentence, she was also ordered to repay $118.4 million in restitution, showing us the enormous financial harm caused by the fraud.
What is OneCoin?
OneCoin, masquerading as a legitimate cryptocurrency, operates as a pyramid scheme, offering incentives to members to recruit others to buy worthless packages of OneCoin. With an estimated value of around $4 billion, the scheme trapped many investors into its web of fraud.
At the center of the #OneCoin scandal is Ruja Ignatova, known as the “Crypto Queen,” who disappeared in 2017 amid growing suspicions surrounding OneCoin.
Ignatova, listed on the FBI's Ten Most Wanted list, remains elusive. Additionally, Karl Sebastian Greenwood, co-founder of OneCoin, received a 20-year prison sentence in September for his involvement in the scam.
Prosecutors revealed that between 2014 and 2019, Dilkinska worked alongside Mark Scott, OneCoin's US-based lawyer, to launder a staggering $400 million through companies in the United States. Cayman Islands, misrepresented as a legitimate investment. Scott, a former attorney at Locke Lord LLP, was convicted of money laundering and sentenced to a decade in prison in January of the same year.
Dilkinska's defense also highlighted her year-long detention at the Metropolitan Detention Center (MDC) in Brooklyn, citing difficult conditions in the facility. In a letter to the judge, Dilkinska described MDC as a place where human dignity is compromised. While Judge Ramos acknowledged these circumstances, he provided a slight degree of leniency in his sentence.
Despite Dilkinska's conviction, her case serves as a poignant reminder of the widespread ramifications of the OneCoin scam. It shows us the true importance of accountability in cryptocurrency and financial regulation.
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