OneCoin's legal head pleads guilty to illicit activity
November 10, 2023 7:17 AM
OneCoin's former head of law and compliance could spend up to 10 years behind bars for her part in the $4 billion cryptocurrency trading scam.
In federal court in Manhattan, the former compliance chief of OneCoin, a crypto scheme that scammed investors out of $4 billion in 2015, pled guilty to wire fraud and money laundering.
On November 10, the DOJ announced that U.S. District Judge Edgardo Ramos had accepted Irinia Dilkinska's 42-year-old guilty plea.
Dilkinska pleaded guilty to conspiracy charges on two counts: wire fraud and money laundering. The maximum term for each count is five years in jail.
"Irina Dilkinska, OneCoin's purported 'Head of Legal and Compliance,' achieved the exact opposite objective of her role,'" stated U.S. Attorney Damian Williams in the statement.
"Dilkinska helped OneCoin launder millions of dollars' worth of illegal profits that it earned through its multi-level marketing scheme, as she has now admitted."
The prosecution determined that Dilkinsa, who was OneCoin's head of compliance, nonetheless played a significant part in the scheme's money laundering. Dilkinsa helped move $110 million in illegally obtained funds to a Cayman Islands company at one time.
On February 14, 2024, Dilkinska will be sentenced for her part in the OneCoin scheme, for which she faces a maximum term of ten years in prison.
On March 21, the Department of Justice initially filed charges against Dilkinska, one for wire fraud and one for conspiracy to commit money laundering.
Karl Sebastian Greenwood and Ruja Ignatova, dubbed the "Cryptoqueen," established OneCoin in 2014. After being found guilty of fraud and money laundering, Greenwood received a 20-year prison term and was required to pay $300 million in reparations.
Despite the federal order for her arrest, Ignatova has not been located since she vanished in October 2017 after flying to Greece.
Despite being exposed as a hoax in 2015, OneCoin nonetheless generated over $4.3 billion in revenue and approximately $3 billion in profits between Q4 of 2014 and Q3 of 2016.