OneCoin trial sentencing deferred 6 months for ‘cooperation’

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Sentencing in the case against one of the main promoters of the OneCoin cryptocurrency scam has been deferred for six months, extending the case for a further period due to the defendant’s “cooperation” with law enforcement agencies.

Konstantin Ignatova had been due for sentencing on July 8, which at the time was extended for a period of a further four months, Inner City Press reported. Ignatova had been due to be sentenced on November 11, before the most recent extension was filed.

According to a filing from the U.S. Attorney’s Office, sentencing is requested for deferral for a further six months, on the grounds that the defendant’s cooperation is “not yet complete”.

“A sentencing control date is presently set in the above-captioned case for November 11, 2020. Because the defendant’s cooperation is not yet complete, the Government respectfully requests that the sentencing control date be adjourned for approximately six months. The defense consents to this application.”

The move has secured the backing of representatives for the defendant, and will now see sentencing scheduled for May 2021.

The deferral comes as Ignatova continues to help law enforcement with their enquiries into other personnel behind the scam, most notably former OneCoin lawyer Mark Scott, who has been detained on evidence provided by Ignatova. Scott was recently disbarred in New York, following his conviction of conspiracy to commit bank fraud in November 2019.

Law enforcement agencies are also keen to track down Ruja Ignatova, the Ponzi scheme’s founder, who remains at large after ostensibly disappearing in 2017 when details of the scam first came to light.

While deferral of sentencing is expected to allow lawmakers to benefit from the further cooperation of Konstantin Ingatova, the move has been criticized as a delay in justice for victims of the OneCoin crypto scam.

See also: CoinGeek Live panel on the Regulation of Digital Assets & Digital Asset Businesses