Judge Valerie Caproni lifted the stay on a class-action lawsuit brought against the notorious crypto Ponzi scheme OneCoin 12 months ago. An order signed by the New York District judge mandates that all parties must submit a proposed schedule for the defendants to respond to the complaint before May 9. The court order reads: No later than May 8, 2020, the parties must jointly submit a proposed schedule for Defendants to answer, move to dismiss, or otherwise respond to the Amended Complaint. According to documents filed April 27, defendants David Pike and Mark Scott objected to the stay being lifted, …

The sentencing of Mark Scott, a licensed attorney who laundered $400 million for the infamous OneCoin Ponzi scheme, has been adjourned until July 14, 2020. On April 25, Judge Edgardo Ramos of the New York Southern District Court reportedly granted Scott’s request for the hearing’s rescheduling due to his “need to get further medical testing.” Scott was delivered a guilty verdict during November 2019, however, appealed the decision in February. Scott’s sentencing sees numerous delays During mid-February, the U.S. Government requested a three-week adjournment of the deadline for its response to Scott’s request for acquittal earlier that month. Scott claimed …

Le Quoc-Hung, a key figure in the notorious OneCoin Ponzi scheme, has launched a new crypto Ponzi scheme — OneLink Since joining the scam in 2014, Quoc-Hung, also known as Simon Le, allegedly recruited thousands of investors into OneCoin from his home country of Vietnam — before becoming a significant player and recruitment ‘captain’. Accordinging to media outlet, BehindMLM, Le positioned himself and the captain of OneCoin’s OneLife network after the scheme’s co-founder, Konstantin Ignatov, was arrested and the subsequent hiding of Ignatov’s sister, Ruja Ignatova. Le then used OneLife as a platform to prompt his new scam, in addition …

Legal proceedings surrounding the infamous OneCoin Ponzi scheme have seen a couple of updates, with the lead plaintiff for a $4 billion class-action urging the judge not to scrap the case after he missed two consecutive reporting deadlines. Federal prosecutors also unsealed an indictment from 2018 against OneCoin co-founder, Karl Greenwood. Plaintiffs request continuation of $4 billion class-action Levi & Korsinsky LLP, the law firm representing lead plaintiff Donald Berdeaux and plaintiff Christine Grablis, has responded to an order from U.S. District Judge Valerie Caproni to show cause for the case’s continuation. The court’s Order to Show Cause was issued …

U.S. District Judge Valerie Caproni has scheduled an April 16 hearing for the representation of the plaintiffs’ in a class action suit against the $4 billion crypto Ponzi scheme, OneCoin, to justify why the case should continue. The date was set on April 10 after the plaintiffs missed multiple deadlines to file consecutive monthly status reports. Lead plaintiff missed two consecutive reporting deadlines Law firms Levi & Korinsky LLP and Silver Miller will have to justify why a $4 billion class-action suit against OneCoin should continue after its lead plaintiff, Donald Berdeaux, again failed to meet the court’s deadline for …

Sentencing for the co-founder of the major crypto scam OneCoin has been postponed for a further three months at the request of the United States government. On April 7, the New York Southern District Court approved a motion to adjourn the sentencing control date for Konstantin Ignatov, brother and accomplice of OneCoin co-founder and current fugitive Ruja Ignatova, a.k.a the "Cryptoqueen." Originally set for April 8, Ignatov’s sentencing date will now take place on July 8, 2020. Ignatov’s cooperation as a witness As reported, OneCoin is among the industry’s most infamous exit scams. Founded in 2014, the Bulgaria-based firm remained …

The United States government has stood by its evidence presented against alleged OneCoin money launderer and former attorney Mark Scott. In a memorandum filed on March 24, the government responded to Scott’s appeal that the prosecution provided insufficient evidence that the funds he handled were derived from illicit activities during November’s proceedings — where a jury handed the defendant a guilty verdict. The former attorney was found to have personally profited $50 million for laundering $400 million in OneCoin’s profits. Scott filed his motion to dismiss the case with the court last month. U.S. government rejects Scott’s appeal The government …

Crypto-Twitter has reacted with horror to the news that the United States Federal Reserve has been given a mandate to print as much new money as it needs to in order to avert a deeper financial crisis due to the coronavirus pandemic. Charles Hoskinson, CEO of Cardano developer, IOHK, even tweeted on March 23 that he was, “getting a real OneCoin vibe,” from the U.S. Dollar. Congress tells Fed to just print more money In an interview with CBS’s 60 Minutes, President of the Federal Reserve Bank of Minneapolis Neel Kashkari referred to there being “an infinite amount of cash …

The co-founder of cryptocurrency-inspired Ponzi scheme OneCoin faces charges of fraud and money laundering in her absence — but will now become a movie star. As Hollywood news outlet Deadline reported on Feb. 4, a United States production company has won the rights to a podcast about Ruja Ignatova originally aired by the British Broadcasting Corporation (BBC) in the United Kingdom. OneCoin drama plans to “get the word out” Charting the rise, fall and disappearance of Ignatova, “The Missing Cryptoqueen” saw 3.5 million downloads in four months when it went live in 2019. Now, New Regency Television will turn the …

Research conducted by the Digital Forensic Research Lab (DFRLab) of the Atlantic Council think tank suggests that the infamous cryptocurrency-themed Ponzi scheme OneCoin used fake reviews on TrustPilot and Quora to lure investors. According to a report published on Jan. 29, OneCoin received an anomalous number of five-star reviews on TrustPilot after the media started negatively covering OneCoin in October 2019. OneCoin’s TrustPilot reviews over time. Source: DFRLab Per the report, of the 579 TrustPilot reviews of OneCoin, 90% were positive and about 400 of the five-star ratings were published in a single month. DFRLab states that OneCoin also received …

The New York Southern District Court granted a continuance in the lawsuit against David Pike over his alleged link to the OneCoin Ponzi scheme. Finance news outlet FinanceFeeds reported on Dec. 21 that the continuation of the case was approved until Jan. 12, 2020 based on court documents filed on Dec. 20. “Fenero Funds” — tracking OneCoin’s laundered money trail Assistant United States Attorney Nicholas Folly reportedly stated that the parties' counsels are discussing a potential pre-indictment disposition. The extension has been deemed as appropriate, given that those discussions are still taking place. Pike was the chief operating officer of …

The website for cryptocurrency Ponzi scheme OneCoin has finally ceased operating, months after United States authorities indicted one of its founders for fraud. As MLM scam monitoring resource BehindMLM.com noted on Dec. 1, OneCoin.eu no longer returned a live result as of Nov. 30. “Legal investigation” offlines OneCoin.eu Upon investigation, a representative from EurID, the domain’s registry, confirmed to the publication that the website was offline due to the criminal proceedings against OneCoin. “The domain name is under legal investigation. Please further check our WHOIS for the status of the domain name,” a written response reads. The event marks the …