The DOJ has filed David R. Pike’s superseding indictment, detailing 4 cases of fraud.
Final November information of David Pike’s arrest in August 2018 emerged.
The DOJ delay submitting Pike’s indictment, owing to the potential of further expenses.
Undecided if Pike’s preliminary indictment was ever filed, however the newest is a February sixth filed superseding indictment.
As per the indictment, Pike’s involvement in OneCoin noticed him commit financial institution fraud from 2016 to 2018.
David Pike … willfully and knowingly, would and did execute a scheme and artifice to defraud a monetary establishment … and to acquire moneys, funds, credit, belongings, securities, and different property … by way of fraudulent pretenses, representations, and guarantees.
Pike labored with Mark Scott to launder funds for OneCoin. His indictment references a 3rd unnamed co-conspirator.
In or round June 2016, a co-conspirator not named herein misrepresented materials information to an FDIC-insured financial institution in Manhattan, New York and thereby brought on the Manhattan Financial institution to switch roughly $5 million right into a purported funding funds operated by David R. Pike and others.
One risk is Gilbert Armenta, who we all know by means of Konstantin Ignatov’s testimony in Mark Scott’s trial, labored as an informant for the FBI.
In distinction to Mark Scott’s not too long ago filed acquittal dumbass protection, an electronic mail alternate between Pike and Scott reveals a calculated effort to deceive.
On or about August 9, 2016, Pike despatched an electronic mail to co-conspirator Mark S. Scott, stating,
“They’re going to make a transfer to quickly and ship up flags that can disrupt the fragile strategy of making an attempt to clean Ruja (Ignatova) i[f] they hold this up.
You’re taking part in a really delicate sport fairly properly, I’m impressed.”
In his acquittal movement, Scott claims he had no thought OneCoin was fraudulent and performed no half in deceiving banks.
Equally, David Pike performed dumb throughout a 2018 assembly with federal regulation enforcement brokers.
On or about December 4, 2018, Pike made false statements throughout a gathering with federal regulation enforcement brokers.
Pike falsely said … that Pike was not conscious that roughly $400 million transferred into purported non-public fairness funds that Pike helped to handle was derived from a world multi-level advertising and marketing scheme generally known as “OneCoin” or belonged to Ruja Ignatova, the chief of that scheme…
…In fact and in reality, Pike was conscious that the cash belonged to Ruja Ignatova and that it was derived from (OneCoin).
Pike’s indictment lists one depend of conspiracy to commit financial institution fraud.
Forfeiture of ill-gotten positive aspects can also be sought, however no certain quantity is specified.
Within the occasion Pike has laundered no matter he was paid by OneCoin, the DOJ will substitute any belongings they will discover.
On February sixth Pike filed a waiver of indictment. In lieu of prosecution by indictment, Pike has consented to continuing by info.
As I perceive it, this negates the necessity for a Grand Jury. As an alternative whether or not Pike has a felony case to reply to will probably be determined by a Decide.
Given the scope of the OneCoin case, in my view it’s extremely unlikely a Decide goes to let Pike stroll free.
Keep tuned…
Replace twentieth October 2021 – Pike’s plea management date was lastly held on October nineteenth.
As per a filed Consent Preliminary Order of Forfeiture, Pike will give up $2.09 million as a part of his judgment.