OneCoin Mark Scott likely to spend Decades in Prison

OneCoin’s Mark Scott: Denied New Trial Motion and Implications for Investors

In the aftermath of his conviction in November 2019, Mark Scott, who was involved in money laundering for OneCoin, sought an acquittal or a new trial in February 2020.

However, his pursuit of legal relief took an intriguing turn with the emergence of fresh evidence related to Konstantin Ignatov’s perjury, prompting Scott to file a supplemental motion for a new trial in August 2021.

In this supplemental motion, Scott contended that had the jury been aware of Konstantin’s deceitful actions, it would have cast doubt on the credibility of Konstantin’s testimony, which, in turn, might have spared Scott from being found guilty of his charges.

However, the hopes of a new trial were dashed on September 14th, 2023, when Scott’s motion was denied by the court.

Photo showing Mark Scott onecoin Scammer

How the Court said No to Mark Scott unfair requests

The court’s decision was influenced by evidence presented by the Department of Justice (DOJ), which pointed towards Scott’s involvement in bank fraud.

The government specified that the bank fraud allegations included transactions such as the July 2016 Fenero Funds loan to CryptoReal and the June and September 2016 investments into the Fenero Funds by Fates Group LLC, an entity under the control of Gilbert Armenta.

Scott vehemently contested the government’s assertion, arguing that none of these transactions constituted bank fraud.

However, the court ultimately ruled in favor of the government, concluding that all three transactions indeed amounted to bank fraud.

One pivotal aspect of Scott’s defense was the revelation that Konstantin Ignatov had lied about disposing of his laptop.

Scott contended that this newly discovered evidence of perjury should warrant a new trial since Konstantin had been a key government witness.

Scott’s argument rested on the belief that if the jury had known about this perjury, they would not have placed trust in any of Konstantin’s testimony, ultimately leading to a different verdict.

Konstantin made Mark Scott  case complicated

However, the government countered by asserting that Konstantin’s testimony concerning the laptop’s disposition, which occurred after Scott’s crimes, was not a material factor in the jury’s verdict.

They argued that Scott had extensively discredited Konstantin during the trial, making any evidence of perjury related to the laptop merely cumulative.

The court, in line with established legal standards, required Scott to demonstrate a “reasonable likelihood” that Konstantin’s perjury regarding the laptop could have influenced the jury’s verdict.

Scott failed to meet this burden.

This is Ruja Ignatova still in missing

The court pointed out that Konstantin’s testimony regarding the laptop was a minor aspect of his overall testimony, spanning just one or two pages in a trial transcript exceeding three hundred pages.

Furthermore, the laptop’s disposal was a tangential matter and unlikely to have swayed the jury’s determination of Scott’s guilt.

In light of this, and given that Konstantin’s testimony mainly focused on OneCoin’s operations rather than Scott’s involvement, the court concluded that Konstantin’s testimony, even when considered as a whole, did not significantly influence Scott’s guilt.

In a stark reminder, it became evident that lying about discarding a laptop does not absolve one of the grave charges of laundering hundreds of millions of dollars for a criminal enterprise.

Scott’s arguments, primarily of a technical nature, were systematically dismantled by the court.

Consequently, the court refused to entertain the notion that there was a genuine concern that an innocent person might have been convicted or that a manifest injustice had occurred.

How Mark is likely to rot in Jail

Thus, considering all aspects of the case, the court was confident that the jury’s verdict was well-supported by the evidence.

Scott’s sentencing, which has been pending since February 2020 pending the outcome of his acquittal and retrial motions, now looms on the horizon following the denial of these motions.

Given the charges he faces, Scott could potentially be sentenced to up to fifty years in prison.

The scheduling of Scott’s sentencing is expected to take place in the coming weeks.

 

As of the latest update on September 20th, 2023, Mark Scott’s sentencing has been scheduled for December 12th, 2023, marking a crucial milestone in this high-profile legal saga.

Investors and observers alike should continue to monitor this case closely, as it serves as a stark reminder of the legal consequences that can befall those entangled in financial wrongdoing.

Written and Edited by

Daniel Leinhardt


Editor at FraudWatchAi

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