OneCoin convict: 4-year prison sentence
OneCoin Fraud: Convict Sentenced to 4 Years in Prison
Former legal and compliance chief in connection with the OneCoin fraud, Irina Dilkinska, has been sentenced to 4 years after pleading guilty to aiding in laundering millions of dollars. The 42-year-old Dilkinska, originally from Bulgaria, appeared before a US District Court, where the verdict was reached, and strict consequences were imposed.
Conviction and Sentence
During the trial, Dilkinska admitted to charges of conspiracy to commit fraud and money laundering. Judge Ramos, presiding over the case, referred to Dilkinska as “a woman of great intelligence who should have known better.” In addition to the 4-year prison term, Dilkinska was also ordered to spend one month under probationary supervision and to repay $111 million as restitution.
OneCoin History
Founded in 2014 by “Cryptoqueen” Ruja Ignatova and Greenwood, OneCoin promised investors guaranteed returns. After it was revealed that the company did not have a functioning blockchain and operated as a financial pyramid, many people lost significant amounts of money. Ignatova, despite being wanted, remains at large, sparking speculation that she may have fallen victim to murder.
Extraordinary Profits of OneCoin
Despite the exposure of the OneCoin fraud in 2015, the company continued to operate, amassing over $4.3 billion in revenue with profits of nearly $3 billion between 2014 and 2016. This serves as another example of fraudulent activities that, by destroying investor trust, lead to serious consequences for the perpetrators.
The conviction of Irina Dilkinska could set an important precedent and serve as a warning to those involved in financial fraud that the consequences of their actions are inevitable.
