Mark Scott, who was involved in the OneCoin cryptocurrency controversy and was found guilty of fraud and money laundering, has been allowed bail while awaiting the outcome of his appeal. 

Details of the bail

On April 18, a decision by the United States District Court for the Southern District of New York, led by Judge Edgardo Ramos, permitted Scott to be released on bail. This decision came three months after he was sentenced to a decade in prison. Details concerning Scott’s health issues, which his defense argued would not lead to him fleeing, were partially concealed in the document. Judge Ramos stated that considering Scott’s health condition and the fact that he hasn’t been accused of a violent offense, there’s no reason to believe he would abscond or pose a threat to others or the community if he were granted bail.

Scott was involved in money laundering for OneCoin, following orders from Ruja Ignatova, also known as the “Cryptoqueen.” Ignatova, who established the cryptocurrency company in 2014 alongside Karl Sebastian Greenwood, was still not apprehended at the time this information was shared despite being connected to the fraudulent activities of OneCoin.

In September 2023, Greenwood received a 20-year prison sentence for his involvement in fraud and money laundering activities. He was also ordered to compensate the victims of OneCoin with $300 million. Irinia Dilkinska, who held the position of chief compliance officer at OneCoin, admitted guilt to two criminal charges in November 2023, with her sentencing set for February. It was reported that Scott’s defense team plans to seek bail while appealing the sentencing verdict.

Irina Dilkinska, who previously led the legal and compliance department for the infamous OneCoin scam, was given a four-year prison sentence by U.S. District Judge Edgardo Ramos, Cryptopolitan reported earlier. Dilkinska pleaded guilty to participating in the laundering of millions of dollars as part of the extensive Ponzi scheme. Her sentencing took place on April 3, as announced by the U.S. Attorney’s Office.

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