OneCoin cryptocurrency scam, Irina Dilkinska, the former head of legal and compliance for the fraudulent scheme, has been sentenced to four years in prison. This verdict, handed down by United States District Judge Edgardo Ramos, marks another milestone in the legal repercussions faced by those involved in the multibillion-dollar Ponzi scheme.
The Verdict: Four Years Behind Bars for OneCoin’s Legal Head
42-year-old Irina Dilkinska faced the consequences of her actions as she was sentenced to four years in jail, along with one month of supervised release and a restitution order of $111 million.
Despite Dilkinska’s plea to avoid imprisonment and return home to care for her children in Bulgaria, Judge Ramos remained resolute in his decision, emphasizing Dilkinska’s culpability in the massive fraud scheme.
Judge’s Rebuke: “A Woman of Great Intelligence Who Ought to Have Known Better”
Judge Ramos did not mince words in his assessment of Dilkinska’s role in the OneCoin scam, describing her as “a woman of great intelligence” who should have been cognizant of the legal ramifications of her actions. Expressing bewilderment at Dilkinska’s continued involvement in the scheme despite its inevitable downfall, Judge Ramos underscored the severity of the crimes committed within the $4-billion Ponzi operation.
The Rise and Fall of OneCoin: A Cautionary Tale
OneCoin, founded by Ruja Ignatova and Karl Sebastian Greenwood in 2014, promised investors guaranteed returns through its cryptocurrency, OneCoin.
However, the company’s facade crumbled when it was revealed that no functioning blockchain existed, and OneCoin operated as a pyramid scheme, relying on new investor recruitment to sustain itself. Ignatova, dubbed the “Cryptoqueen,” remains at large, evading arrest since her disappearance in 2017.
Despite being exposed as fraudulent in 2015, OneCoin managed to amass over $4.3 billion in revenue, underscoring the pervasive nature of cryptocurrency scams.
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