# Lawyer for OneCoin scammer Ruja “Cryptoqueen” Ignatova disbarred
“# Lawyer for OneCoin scammer Ruja “Cryptoqueen” Ignatova disbarred ”
Scott, who was convicted of conspiracy to commit money laundering and conspiracy to commit bank fraud, fought the disbarment, arguing that he has a post-trial motion pending which requests either an acquittal or a new trial.
Judges from the Third Judicial Panel rejected these arguments, stating in their opinion that, “Should respondent’s post-trial motion or potential future appeal be successful, ‘he may move to vacate the sanction imposed by this court.'”
Co-founded by Ignatova in the mid 2010s, the OneCoin pyramid scheme/multilevel marketing ploy offered commissions for recruiting new investors in what promised to be a major cryptocurrency, but investments were often instead routed directly into Ignatova’s pockets. Ignatova remains at large.
For his part, Scott was convicted of helping to launder nearly $400 million for Ignatova, of which he pocketed upwards of $50 million in fees. According to prosecutors, Scott boasted of earning “50 by 50,” referring to his wealth and age, and he used the money to purchase cars, a boat, and multiple beachside homes.
As Cointelegraph has previously reported, the OneCoin saga and its characters are set to become the topic of a major motion picture starring Kate Winslet, as well as a BBC television show.
Scott, who is free from prison due to medical concerns, is currently awaiting sentencing scheduled for December 2020. He faces up to 50 years in prison.
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