As bits and pieces of the US DOJ case against OneCoin and its executives are unsealed, we’re getting a clearer picture of where the case is at.
In a recent filing concerning potentially privileged information, a previously sealed order has revealed the New York court’s position on the DOJ’s evidence.
The revealing order was made back in July 23rd, in response to a DOJ filing requesting permission to “apply a crime-fraud exception” to otherwise privileged communications.
The communications in question are between OneCoin, OneCoin related companies, its executives, insiders and attorneys.
As discussed in the motion, the court observed;
For the crime-fraud exception to apply, the Government must show that there is probable cause to believe that
(1) a fraud or crime has been attempted or committed, and
(2) the communications or materials in question were in furtherance of the fraud or crime.
The Government claims that it easily satisfies its burden that there is probable cause … specifically both wire fraud and money laundering.
The indictments and complaints establish
(1) probably cause that OneCoin is an illegal pyramid fraud scheme
(2) that (Mark) Scott and (Ruja) Ignatova participated in a money laundering conspiracy with the object of money laundering OneCoin fraud proceeds, and
(3) that (Mark) SCott engaged in the laundering of approximately $400 million in proceeds from the OneCoin scheme from approximately 2016 and 2018.
Finally, the evidence shows that the OneCoin parties, including (Ruja) Ignatova herself, and International Marketing Strategies Limited sought and obtained legal advice from (Mark) Scott; that Scott established the MSSI/Fenero entities to launder hundreds of millions of dollars for OneCoin; and that the Receiving Entities facilitated transactions furthering the money laundering scheme.
After a full review of the relevant indictments, complaints and the parties’ submissions, the Court agrees.
While the order isn’t a judgement, at the very least it should be clear that the evidence the DOJ has collected thus far is compelling.
Compelling enough that the court the case is being heard in already agrees “OneCoin is an illegal pyramid fraud scheme”, and that the laundering of hundreds of millions of dollars took place.
Really makes you wonder what’s in all the other currently sealed case filings hey.