The OneCoin debacle is seemingly far from over. One of the former lawyers aiding this company has now been convicted for attempting to commit money laundering.

As far as major Ponzi Schemes are concerned, OneCoin has to be near the top of the list. 

Another OneCoin Cronie Nailed to the Cross

This fake “cryptocurrency” project stole as much as $4bn from investors all over the world.

To date, it remains unclear where the money was sent to or who helped launder it.

One person convicted for conspiracy to commit money laundering on behalf of OneCoin is a former Lock Lord LLP partner. 

Mark S. Scott, who stood trial for three weeks, laundering $400m in OneCoin proceeds.

This former Locke Lord LLP partner was also a former equity partner at the law firm.

It is believed these money laundering efforts netted Scott as much as $50m, which was then used to purchase various luxury items.

Very few people expected a former partner of such a prominent law firm to engage in this type of activity.

Scott stood trial for three weeks, after which the verdict was handed down. 

Although an official sentence was not delivered yet, Scott will face up to 50 years in prison for this illegal activity.

The document also mentions how Scott has a personal connection to OneCoin founder Dr. Ruja Ignatova.

Both individuals met in September of 2015.

Several months later, Scott launched multiple fake private equity investment funds to begin his money laundering activities. 

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