NEW YORK: Federal prosecutors in New York on Friday announced criminal charges against the alleged leaders of a multibillion-dollar international ...
NEW YORK: Federal prosecutors in New York on Friday announced criminal charges against the alleged leaders of a multibillion-dollar international pyramid scheme involving the sale of a fraudulent cryptocurrency, OneCoin.
Konstantin Ignatov, who runs OneCoin Ltd, and his sister Ruja Ignatova, who co-founded OneCoin, were accused of running a sham multi-level marketing network whose members received commissions by recruiting others to buy cryptocurrency packages.Prosecutors said OneCoin was conceived as a means to defraud victims, who would wire money to bank accounts it controlled.The defendants"created a multibillion-dollar cryptocurrency company based completely on lies and deceit," U.S.
Ignatov, 33, of Sofia, Bulgaria, was arrested on Wednesday at Los Angeles International Airport, and charged with wire fraud conspiracy.Ignatova, 38, also of Sofia, was charged with wire fraud, securities fraud and three conspiracy charges. Prosecutors said she disappeared in Oct. 2017 and remains at large.A third defendant, lawyer Mark Scott, 50, of Coral Gables, Florida, pleaded not guilty last September to conspiring to launder more than US$400 million of proceeds from the scam.
"Unequivocally, Mr. Scott maintains his complete and utter innocence of the charges in this case," his lawyer David Garvin said on Friday.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-New York mayor Bloomberg rules out run for US president in 2020[WASHINGTON] Former New York mayor Michael Bloomberg, the centrist billionaire Democrat who positioned himself as a potential challenger to Donald Trump, said on Tuesday he would not run for president in 2020. Read more at The Business Times.
Read more »
Huawei to be arraigned in US fraud case in New York on March 14Huawei Technologies Co Ltd and two affiliates will be arraigned on March 14 in U.S. District Court in Brooklyn, New York, on accusations the ...
Read more »
Snowstorm hammers north-east US, forcing school closures in New York and flight cancellationsNEW YORK (REUTERS) - New York faced its biggest snowstorm of the winter on Monday (March 4) as snow spread across the northeastern United States, infuriating commuters who juggled cancelled planes and trains and faced icy travels ahead as temperatures plunge.. Read more at straitstimes.com.
Read more »
US: Wall St opens higher on US-China trade deal hopes[NEW YORK] US stocks rose at the open on Monday on rising hopes that the United States and China would end their trade dispute as early as this month. Read more at The Business Times.
Read more »
South Korea's Moon urges new US-North denuclearisation talksSEOUL: South Korea President Moon Jae-in on Monday (Mar 4) urged the US and North Korea to quickly resume denuclearisation talks after their Hanoi ...
Read more »
Quest Ventures raising two new funds totalling up to US$120mVENTURE capital firm Quest Ventures is raising two funds - an open fund of US$50 million to US$100 million, and an impact fund of up to US$20 million - The Business Times has learnt. Read more at The Business Times.
Read more »
J&J nasal spray gets US approval as first new type of anti-depressant in decadesThe U.S. Food and Drug Administration on Tuesday said it approved a Johnson & Johnson nasal spray antidepressant for people resistant to other ...
Read more »
J&J nasal spray gets US approval as first new type of anti-depressant in decadesNEW YORK (REUTERS) - The US Food and Drug Administration on Tuesday (March 5) said it approved a Johnson & Johnson nasal spray anti-depressant for people resistant to other treatments but placed restrictions on use of the drug, which it warned could be misused and abused.. Read more at straitstimes.com.
Read more »
Bugatti unveils world's most expensive new car, sold for US$18.9 millionGENEVA (WASHINGTON POST) - To mark its 110th anniversary, the French automaker Bugatti celebrated in singular style, unveiling the most expensive new car in the world - La Voiture Noire, or the black car - in Geneva.. Read more at straitstimes.com.
Read more »