OneCoin Legal Exec Sentenced to 4 Years Over Multibillion Dollar Crypto Scheme

Sujha Sundararajan
Last updated: | 1 min read
Source: Pixabay

Irina Dilkinska, former atty of the infamous OneCoin cryptocurrency scam, was sentenced to 4 years in jail on Wednesday. Dilkinska pled guilty last year for her role in helping launder $4 billion crypto fraud scheme in 2019.

The co-conspirator has become the latest to receive a prison term in the multibillion-dollar crypto pyramid scheme. The judgement came from the US District Judge Edgardo Ramos in New York.

Early this year, a German Court sentenced founders of OneCoin to several years in prison. Karl Sebastian Greenwood, co-founder and a main promoter of OneCoin, received 20-years jail term.

During the same period, OneCoin lawyer Mark Scott was sentenced to 10 years in U.S. federal prison for participating in “one of the largest fraud schemes ever perpetrated,” the Department of Justice said.

However, chief mastermind Ruja Ignatova, who is on the FBI’s top 10 most wanted list in 2022, still remains at large.

Dilkinska, in November last year, pled guilty one count of conspiracy to commit wire fraud and money laundering.

“Irina Dilkinska’s involvement in the sprawling OneCoin pyramid scheme was a flagrant breach of conduct,” said U.S. Attorney Damian Williams.

“Rather than upholding the law and embracing her position as the Head of Legal and Compliance, she facilitated and committed money laundering, aiding in the exploitation of millions of victims.”

The OneCoin Saga

Onecoin, an elusive cryptocurrency, became synonymous with controversy and deception, since the scam’s spearhead Ruja Ignatova went missing in 2017. 

Ignatova and a business partner Sebastian Greenwood conned crypto enthusiasts by claiming their token, OneCoin, would be a “Bitcoin killer”. They started pitching it to potential investors in 2014, promising a fivefold and tenfold return. They also referred to their investors as “idiots” and “crazy.

In October 2017, Ignatova completely vanished as authorities circled and is now on the FBI’s list of the 10 most-wanted fugitives and is the only woman currently on the hit list.

US prosecutors have alleged that the Ponzi scheme raked in approximately $4 billion, defrauding investors across the globe.