The CEO of the popular cryptocurrency scam named OneCoin is in the latest cryptocurrency news again. As the titles show, the OneCoin scam boss Konstantin Ignatov will have to undergo trial while he is still in custody.
The news were made official after the New York Southern District Court and its Judge Edgardo Ramos denied a bond application that was filed by Ignatov – despite him being the top leader of the cryptocurrency scam. The OneCoin scam boss has proposed attractive release conditions (as reported by Finance Feeds) but is now accused of conspiracy to commit wire fraud – a crime which could see him serve the maximum of 20 years in jail.
The best cryptocurrency news sites showed that Ignatov’s defense team had proposed a $20 million personal recognizance bond. Ignatov also agreed to wear GPS tags as well as foot the bill to hire a round-the-clock armed bodyguard service who would ensure that he doesn’t flee.
The access to the OneCoin scam boss’ residence is also only allowed to those with pre-authorized permission. On top of this, Ignatov agreed to avoid using computers or cellphones other than for taking notes and reviewing discovery.
Judge Edgardo Ramos did not fall for Konstantin Ignatov's desperate request to get out of prison until his trial.
Confirmation that Ignatov's Bail request (Bond application) was denied on Friday 28 June 2019#OneCoin #scam #KonstantinIgnatov pic.twitter.com/ZEEjmyQBAf— OneCoinInsider (@OneCoinInsider) June 29, 2019
The altcoin news, however, show that the OneCoin scam is still operating. At the time of Ignatov’s arrest in March in California, he was scheduled to attend OneCoin events in the US.
“He simply cannot be trusted to comply with any conditions set by the Court, having already lied to U.S. border agents, investigating case agents, and even the very Pretrial Services Officers tasked with evaluating appropriate bail in this case,” government officials noted.
The US authorities also noted that the OneCoin scam founder and the sister of Konstantin Ignatov, Ruja Ignatova, had disappeared after charges were filed against her. Right now, a lot of sites report that the OneCoin boss could flee to some of the countries with no US extradition treaty which are actually many.
In such case, he would not be in danger of being apprehended and flown back to the US. One of them could be Samoa, as well as his native Bulgaria or the neighbouring countries of Serbia and North Macedonia.
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“From October 2017 through February 2018, Fitzgerald stole money from five people by using online notices and communications advertising the sale of discount bitcoins, according to court testimony.. She met the victims in person and forcefully took the cash they had brought to purchase the cryptocurrency.”Although they were originally charged with numerous other offenses, the court allowed them both to enter a plea of no contest against a single count of second-degree robbery and then dropped two additional charges against the California Bitcoin Bandit Fitzgerald on two counts of grand theft as well as three counts of child abuse which relates to the time she brought a child along during some of the robberies.Hall is expected to receive up to four years for his involvement and Fitzgerald could earn up to 10 years in prison. Both sentences have been increased since the defendants also pleaded no contest to using a firearm during the robberies. As the situation proposes, Hall will be sentenced on December 17 and will receive four years and a fine of $30,000 in restitution while Fitzgerald will have to serve 10 years in prison and $85,000 in restitution payments.
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"In the few months his scheme remained active, Ho consumed more than $5 million in unpaid cloud computing services with his mining operation and, for a brief period, was one of Amazon Web Services (AWS) largest consumers of data usage by volume. Some of the bills were paid by the California game developer’s financial staff before the fraud was detected."The investigators claim that Ho was able to use the social engineering knowledge in order to gain access to admin privileges and large amounts of cloud computing power on Amazon and Google servers - mining various cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).Ho also managed to trick Amazon into believing that he was the president of Riot Games - and created a fake Californian driving license that carried the Riot Games and the co-chairman's name. Even though the Department of Justice charged Ho in early October, the identity of this developer became public only now.The cryptocurrency miner who stole the mining power is now charged with eight counts of wire fraud, four counts of access device fraud and two counts of aggravated identity theft.
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