Mark Scott, a legal professional associated with the OneCoin cryptocurrency scheme, has been granted bail as he awaits the outcome of an appeal following his conviction for fraud and money laundering.
In a recent court filing dated April 18, Judge Edgardo Ramos of the United States District Court for the Southern District of New York approved Scott’s bail request, three months after he was sentenced to a 10-year prison term. The decision comes amid considerations of Scott’s health concerns, which his defense team argued did not present a risk of flight.
Judge Ramos, citing Scott’s medical conditions and the absence of violent charges, concluded that the lawyer was not likely to flee or pose a threat to others if released on bail.
Scott’s legal team had raised “substantial questions” of law regarding potential appeal grounds, particularly focusing on the testimony of Konstantin Ignatov, a key figure in the OneCoin scheme. Despite allegations of perjury, Ignatov’s testimony was used by prosecutors in Scott’s trial.
While expressing doubts about the likelihood of a successful appeal, Judge Ramos acknowledged the significance of the legal issues raised, which could potentially impact Scott’s conviction on multiple counts.
Scott was convicted by a jury in November 2019 for his involvement in laundering millions of dollars through the OneCoin platform, under the direction of co-founder Ruja Ignatova, who remains at large.
This development follows the sentencing of OneCoin co-founder Karl Sebastian Greenwood to 20 years in prison in September 2023, along with former chief compliance officer Irinia Dilkinska’s four-year prison term in April 2023 after pleading guilty to felony charges.