Former Locke Lord Attorney Faces OneCoin Laundering Charges

Federal prosecutors have replied to Mark Scott’s attempt to have his OneCoin fraud convictions dismissed. Last year a jury found Scott guilty of laundering USD $400 million for the crypto scam, all while keeping millions for himself.

The OneCoin thieves stole billions from naive investors by advertising a fake cryptocurrency that was, in truth, a Ponzi scheme. The well-marketed operation began in 2014, and continues to function, albeit on a much smaller scale.
Scott, a former Locke Lord attorney with extensive experience in finance, began working with OneCoin in 2016. He made $50 million by laundering OneCoin profits through foreign banks. He used the money to fund a lavish lifestyle that he frequently documented on social media. During his trial he asserted that he did not…

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