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April

Irina Dilkinska, the former head of legal and compliance for the notorious multibillion-dollar OneCoin fraud scheme, has been handed a four-year jail sentence after confessing to her involvement in laundering millions of dollars.&nbsp;
United States District Judge Edgardo Ramos delivered the<a href="https://www.justice.gov/usao-sdny/pr/head-legal-and-compliance-multibillion-dollar-cryptocurrency-pyramid-scheme-onecoin-0" rel="noopener noreferrer nofollow"> sentence</a> on Wednesday, as per an April 3 statement from the U.S. Attorney’s Office.
As reported earlier by TheCoinRise, Karl Sebastian Greenwood, one of the founders of the fraudulent cryptocurrency project,<a href="https://thecoinrise.com/onecoin-co-founder-greenwood-pleads-guilty-to-money-laundering/" rel="noopener noreferrer nofollow"> pleaded guilty to federal United States</a> charges including wire fraud and money laundering.
<h2 id="span-style-font-weight-400-onecoin-legal-head-to-forfeit-111m-span">OneCoin Legal Head to Forfeit $111M</h2>
In addition to the four-year prison term, Dilkinska faces one month of supervised release and has been instructed to forfeit a staggering $111 million as restitution for her part in the scheme.
Despite the OneCoin legal head’s pleas to avoid incarceration and<a href="https://www.bloomberg.com/news/articles/2024-04-03/onecoin-executive-gets-four-years-over-4-billion-crypto-scam" rel="noopener noreferrer nofollow"> return</a> home to care for her young children in Bulgaria, Judge Ramos dismissed her appeal, emphasizing her culpability in the elaborate Ponzi scheme.&nbsp;
<h3 id="span-style-font-weight-400-dilkinska-was-fully-cognizant-of-the-legal-ramifications-span">Dilkinska was Fully Cognizant of the Legal Ramifications</h3>
Ramos remarked that Dilkinska, equipped with considerable intelligence, was fully cognizant of the legal ramifications of her actions within the $4 billion fraud operation.
“I honestly do not understand what prevented her from leaving the scheme before the point when it was brought down,” Ramos remarked, highlighting Dilkinska’s active involvement in perpetuating the fraudulent activities.
<h2 id="span-style-font-weight-400-dilkinska-s-sentencing-span">Dilkinska’s Sentencing</h2>
The former OneCoin executive had previously pleaded guilty to wire fraud and money laundering charges in a Manhattan federal court on Nov. 10. These charges carried a maximum sentence of up to five years each, potentially totaling a decade in prison.
Her sentencing marks the latest development in a series of legal actions against individuals associated with the OneCoin scam. Last year, co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison for his role in the scheme, and he was further ordered to pay $300 million in restitution.
<h3 id="span-style-font-weight-400-onecoin-scandal-span">OneCoin Scandal</h3>
OneCoin, founded by Ruja Ignatova and Greenwood in 2014, enticed investors with promises of guaranteed returns from a fictitious cryptocurrency. However, investigations later revealed the absence of a functional blockchain,<a href="https://thecoinrise.com/onecoin-scam-update-bank-of-ireland-officials-set-to-appear-in-us-court/" rel="noopener noreferrer nofollow"> exposing OneCoin as a pyramid scheme</a> reliant on luring in new investors.
Despite being exposed as fraudulent in 2015, OneCoin<a href="https://thecoinrise.com/billion-us-indictment-against-onecoin-co-founder-sebastian-greenwood-2020/" rel="noopener noreferrer nofollow"> managed to amass over $4.3 billion in revenue</a>, recording substantial profits between 2014 and 2016. Ignatova, often referred to as the “Cryptoqueen,” remains at large since her disappearance in 2017, following a federal warrant for her arrest. Speculations have arisen regarding her fate, with some linking her disappearance to the murders of several OneCoin associates in Mexico in 2020.
The post <a href="https://thecoinrise.com/onecoin-legal-head-sentenced-to-four-years-in-jail/" rel="noopener noreferrer nofollow">OneCoin Legal Head Sentenced to Four Years in Jail</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

OneCoin Legal Head Sentenced to Four Years in Jail

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