Former Head of Legal and Compliance for the infamous OneCoin, Irina Dilkinska, has pled guilty to wire fraud and money laundering charges. It has exposed the dark underbelly of one of the largest crypto frauds in financial history.
September saw a series of judgments for the people involved in this scam. Their co-founder, Karl Greenwood was sentenced to 20 years in prison in the United States. A lawyer involved in the case, Mark Scott was denied a motion for a new trial.
The guilty plea, accepted by U.S. District Judge Edgardo Ramos, revealed how Dilkinska played a pivotal role in facilitating the laundering of millions of dollars in her purported role as a guardian of legality. The funds were accrued through OneCoin’s multi-level-marketing (MLM) scheme in.
As OneCoin’s so-called ‘Head of Legal and Compliance,’ Irina Dilkinska accomplished the exact opposite goal of her position
U.S. Attorney Damian Williams
The fraud hit victims worldwide who invested over $4 billion in the fraudulent crypto. They misled by misrepresenting marketing of OneCoin.
How was the OneCoin scam was executed?
The roots of this colossal scam trace back to 2014 when Ruja Ignatova and Karl Sebastian Greenwood co-founded OneCoin in Sofia, Bulgaria. Ruja Ignatova was popularly called l as “the Cryptoqueen.”
OneCoin operated as an MLM network. They rapidly grew their user base by offering commissions to encourage others to purchase their crypto packages.
Court documents reveal that OneCoin generated a jaw-dropping €4.037 billion in sales revenue between 2014 and 2016. They also claimed “profits” of €2.735 billion between the same period.
Despite her non executive title, Dilkinska was instrumental in running OneCoin’s daily operations. She orchestrated the transfer of $110 million in illegally obtained OneCoin proceeds to an entity in Cayman Islands.
The saga took a dramatic turn when Ignatova was charged in 2017 with OneCoin-related fraud and money laundering. The charges landed her on the FBI’s Top Ten Most Wanted List in 2022. They even announced a $100,000 reward any information that would lead to her arrest.
The infamous Cryptoqueen remains a wanted person after she got on a plane and vanished six years ago. Dilkinska awaits sentencing on February 14, 2024
The case has been a collaborative effort between the Internal Revenue Service-Criminal Investigation and the FBI. It highlights how law enforcement officials pursue justice with commitment of.