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A U.S. court has ruled that Konstantin Ignatov, the brother of Cryptoqueen Ruja Ignatova, who perpetrated the $4 billion OneCoin cryptocurrency fraud, will spend no more time behind bars for his role in the scam., U.S. District Judge Edgardo Ramos released Ignatov from prison on March 5 after he pleaded guilty to helping his sister run the international crypto fraud scheme.
Ignatova hired her brother to work as her personal assistant during OneCoin’s boom from Q4 2014 to Q3 2016. After his sister’s disappearance in 2017, Ignatov took over and became the “de facto leader” of the scheme, according to the prosecutors. During the trial, Ignatov confessed that he lied about discarding his laptop in Las Vegas on the witness stand at an earlier proceeding. He also testified against Mark Scott, a former OneCoin lawyer convicted of laundering $400 million from the scheme. ScottIgnatov’s sentence came with two years of supervised release and an agreement to forfeit $118,000, as ordered by Judge Ramos.
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