Bank of Ireland (BOI) executives have backed out of the testimony earlier than the United States Government within the felony proceedings concerning a $400 million price cash laundering scheme by cryptocurrency rip-off OneCoin.
No testimony on voluntary foundation
As fintech-focused information outlet FinanceFeed reported on Oct. 11, the U.S. Government filed a Letter with the Court on Oct. 10, through which it clarified that over the previous week it had tried to get voluntary witness testimony in Ireland. However, the witnesses modified their stance towards the prospect of testifying and would now testify solely in response to obligatory course of beneath the U.S.-Ireland Mutual Legal Assistance Treaty (MLAT).
The 4 witnesses at BOI who have been to hitch a trial within the case in opposition to the accused in custody, Mark Scott, have been head of BOI’s Anti-Money Laundering crew Diane Sands, BOI overseas direct funding crew member Deirdre Ceannt, former govt VP and relationship director Derek Collins, and Greg Begley.
Since the case includes the Central Authority of Ireland, the Government submitted an MLAT request to the authority to persuade the witnesses to testify by closed-circuit tv.
Parties concerned within the OneCoin crypto pyramid scheme
As beforehand reported by Cointelegraph, Scott is accused of conspiracy to commit cash laundering. From 2019 to 2019, Scott laundered nearly $400 million in proceeds from OneCoin by a collection of personal fairness funds within the British Virgin Islands with accounts at banks within the Cayman Islands, generally known as Fenero Funds.
Scott additionally had company financial institution accounts at BOI, by which he allegedly laundered over $300 million in OneCoin fraud proceeds.
In March, a U.S. District Attorney charged the founders of OneCoin, Konstantin Ignatov and his sister Ruja Ignatova with “wire fraud, securities fraud, and money laundering offenses,” whereby they allegedly lured buyers to contribute “billions of dollars in the fraudulent cryptocurrency.”
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