A lawyer arrested Stateside in connection with an alleged $4 billion OneCoin fraud was a director of six companies in Ireland and operated a number of bank accounts there, The Sunday Times reports.
Mark S Scott stands accused of laundering approximately $400 million through hedge funds in the Cayman Islands and sending the majority of these funds back to his colleagues.
OneCoin was founded in 2014 by Bulgarian businesswoman Ruja Ignatova. In 2017, the government of Kazakhstan clamped down on the company, labelling it a Ponzi scheme. It has also been the subject of investigations in India and China.
Nonetheless, it is ploughing ahead and, in January, claimed that its cryptocurrency ONE was “a step closer to being listed on an exchange”.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.