On allegations of wire fraud and money laundering, the Luxembourgish person connected to the OneCoin scam will be deported to the US.
According to a recently revealed indictment, another participant in the infamous OneCoin scheme will be charged with wire fraud and money laundering after being extradited to the United States.
The report describes the allegations made against Frank Schneider at a grand jury hearing in 2020. It was kept secret until Monday when a judge in the Southern District of New York granted U.S. attorney Damian Williams’ plea to make it public. Furthermore, a former Luxembourg intelligence official is charged with conspiring to conduct wire fraud and conspiring to commit money laundering through his private intelligence company, Sandstone, which worked for OneCoin.
Schneider claimed to have been close to the fugitive so-called Cryptoqueen” in an interview published in June of this year when he defined his work at OneCoin as a “crisis manager” for the scheme’s originator Ruja Ignatova. Additionally, he said that he was unaware of any potential illegal activity at the time of his engagement.
Schneider, among other things, managed the scam’s revenues and evaded law enforcement inquiries into the schemes, which let him run a worldwide fraud operation involving selling a fictitious cryptocurrency called OneCoin.
Moreover, fraudulent statements and representations were made to encourage people all around the world (including in the Southern District) to participate in OneCoin, leading people to conduct wire transfers across state lines and abroad in the name of their OneCoin investments.
Per the recently disclosed allegations, Schneider will be the most recent person to stand prosecution for involvement in the “$4 billion OneCoin Ponzi Scheme” if he is extradited to the U.S.
After OneCoin scam Defense of Frank Schneider
Schneider, who was detained on the Luxembourg-France border in April 2021, has attempted to evade deportation to the United States for his alleged misdeeds in the OneCoin scam.
A Paris court affirmed an earlier ruling supporting his deportation by the U.S. Department of Justice in October.
Last month, local media indicated that Schneider’s native Luxembourg’s prime minister would not become involved in the deportation caused by OneCoin Cryptoqueen fraud.
Schneider stated to Radio 100,7 in Luxembourg that he would prefer to be tried in Luxembourg, where he would be subject to up to five years in jail while under house arrest in Joudreville, in northeastern France.
He said the term served in the United States would be closer to 40 years, which would be like a death sentence.
In October, three of Ruja Ignatova’s accused acquaintances made an appearance in court in Germany. Konstantin Ignatov, Ruja Ignatova’s brother, pleaded guilty to fraud and money laundering in 2019.
A second man, Christopher Hamilton, is set to be sent from the UK to the US to answer to various charges from his claimed role in the scam.
However, it is still unclear where OneCoin Cryptoqueen is. The most wanted lists of the FBI and Europol both included her earlier this year.