OneCoin attorney granted bail while appealing conviction and 10-year prison term

Mark Scott, a lawyer involved in the OneCoin cryptocurrency scheme and recently convicted of fraud and money laundering, has been granted bail while awaiting an appeal of his case. The decision was made by Judge Edgardo Ramos of the United States District Court for the Southern District of New York in an April 18 court filing. This comes three months after Scott was sentenced to 10 years in prison. The court filing mentioned Scott’s health issues, which his legal team argued did not make him a flight risk. Judge Ramos, considering Scott’s medical conditions and the fact that he has not been charged with a violent crime, concluded that he is not likely to flee or pose a threat to anyone’s safety if allowed to remain on bail. A notice filed on February 7 indicated that there were “substantial questions” of law to be addressed in a potential appeal. Scott’s legal team claimed that Konstantin Ignatov, the brother of Ruja “Cryptoqueen” Ignatova and a key figure in the OneCoin scheme, had perjured himself. However, prosecutors still relied on his testimony in their case. While the judge expressed doubt that Scott would obtain a reversal or new trial on both counts, he acknowledged that the questions raised were not frivolous and were integral to the merits of Scott’s conviction. Therefore, a contrary appellate ruling could potentially result in a reversal or new trial for all counts for which Scott has been imprisoned. In November 2019, Scott was found guilty by a jury of conspiracy to commit bank fraud and conspiracy to commit money laundering for his involvement in laundering millions of dollars through OneCoin. He carried out these actions under the direction of OneCoin co-founder Ruja Ignatova, who is still at large. OneCoin co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison for fraud and money laundering in September 2023 and ordered to pay $300 million in restitution to OneCoin victims. Former OneCoin chief compliance officer Irinia Dilkinska pleaded guilty to two felony counts and was sentenced to four years in prison on April 3.