News

OneCoin Co-Conspirator Frank Schneider Accused Of Money Laundering

According to a 2020 indictment released this week in the United States District Court for the Southern District of New York, Frank Schneider, an accused participant in OneCoin’s $4 billion Ponzi scheme, is facing accusations of wire fraud and money laundering.
Frank Schneider

Schneider, a Luxembourg national whose intelligence business worked with OneCoin, was detained in France in 2021 and had been resisting extradition to the United States.

Co-accused U.K. national Christopher Hamilton, who faces similar allegations as Schneider, lost a plea in his home country in August to prevent extradition to the United States, while his fellow countryman Robert McDonald avoided extradition on human rights grounds. According to the indictment:

“From in or about 2014 through in or about 2019, in the Southern District of New York and elsewhere, and in an offense begun and committed out of the jurisdiction of any particular state or District, FRANK SCHNEIDER, the defendant, who is expected to be first brought to and arrested in the Southern District of New York, and whose point of entry in the United States is expected to be the Southern District of New York, and others known and unknown, willfully and knowingly did combine, conspire, confederate, and agree together and with each other to violate Title 18, United States Code, Section 1343.”

In 2019, Mark Scott, the lawyer behind OneCoin, was found guilty in the United States of laundering $400 million for the Ponzi scheme.

OneCoin, which was founded in Bulgaria in 2014, falsely labeled itself as a cryptocurrency, informing investors that the token could be mined and had actual value when, in fact, it did not exist on the blockchain.

Ruja Ignatova, often known as the “CryptoQueen,” was included on the FBI’s Ten Most Wanted Fugitives list this summer.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z

a16z and Coinbase have pledged substantial funds to crypto PAC Fairshake, aiming to support crypto-friendly…

43 mins ago

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

4 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

7 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

9 hours ago

This website uses cookies.