Reports revealed that the sentencing of one of the co-conspirators of the OneCoin multi-billion cryptocurrency scam, Mark Scott, has been postponed by the New York Southern District Court.
The case has been postponed several times
This is not the first or second time the case has been adjourned, although each adjournment was for different reasons. This time, the reason for the adjournment is to enable Scott to undergo further medical tests, as he requested.
Judge Edgardo Ramos, who is presiding over the case, granted a request issued by Scott to adjourn the case until July 14, 2020. The accused has been convicted of conspiracy to commit bank fraud and conspiracy to commit money laundering.
Scott was formerly a partner at law firm Locke Lord LLP. In November last year, he was convicted for laundering about $400 million from the proceeds of OneCoin fraudulent investment funds – a phony scheme he established to swindle investors.
In February, Scott requested that charges be dropped against him because there was no testimony linking him with OneCoin. He further stated that there is limited evidence that Onecoin’s activities extended to the United States, with no notion his activities with OneCoin was violating any criminal law in the US.
Scott said no evidence was provided by the Government
Scott said there was no evidence provided by the Government to show that the investment made by Horn and Cohen were transferred to the Fenerao Funds. He also said that the Government failed to prove that a United States resident provided funds to any account Scott owns or had access to.
He filed for acquittal, but his request was rejected as at then.
He also argued that the instructions to the jury on both the money laundering and bank fraud were incorrect in several ways, which permitted the jury to convict him. According to him, the false information and notion the jury had on the case were the reason he was convicted without any sufficient proof of his wrongdoings.
The massive error on the jury should have granted him another trial, even if the prosecutor provided sufficient proof to the case, he said.
Scott further reiterated that based on the Government’s evidence, OneCoin was a scheme operated by non-US residents and its products were also sold to individuals and investors who are outside of the US.
However, the Government stated that the jury was able to conclude the case because there was enough evidence about Scott’s fraudulent activities with OneCoin. The enormous evidence showed that the accused was guilty beyond a reasonable doubt.
The circumstances and facts surrounding the guilty verdict of the jury do not provide any reason for a new trial, according to the Government.