Damian Williams, the United States Attorney for the Southern District of New York, recently announced a significant development in the notorious OneCoin case. Irina Dilkinska, 42, formerly known as the ‘Head of Legal and Compliance’ for OneCoin, has pleaded guilty to charges of wire fraud and money laundering in connection with her role in the colossal OneCoin fraud scheme. The sentencing is scheduled for February 2024.
The OneCoin Guilty Plea
This guilty plea development marks a pivotal moment in the ongoing investigation into OneCoin, a fraudulent cryptocurrency operation that deceived millions worldwide, resulting in billions in losses.
OneCoin, which commenced operations in 2014 and was headquartered in Sofia, Bulgaria, deceptively sold a sham cryptocurrency under the same name. This was executed through an extensive global multi-level marketing (MLM) network, leading to over $4 billion in investments from victims globally.
U.S. District Judge Edgardo Ramos accepted Dilkinska’s guilty plea, adding a significant chapter to the OneCoin saga. U.S. Attorney Damian Williams commented on the plea, highlighting the irony of Dilkinska’s role in the organization. Instead of ensuring legal compliance, she actively facilitated the laundering of millions of dollars of OneCoin‘s illicit profits derived from its MLM scheme. Williams emphasized the commitment of his office and law enforcement partners to continue their pursuit of justice in this high-profile case.
The fraudulent nature of OneCoin, co-founded by “Cryptoqueen” Ruja Ignatova and Karl Sebastian Greenwood, was structured as a pyramid scheme. In September 2023, Greenwood, who entered a guilty plea, was sentenced to 20 years in prison for orchestrating the massive fraud scheme.
The Bulgarian citizen Irina Dilkinska faces a maximum potential sentence of five years in prison for each count of conspiracy to commit wire fraud and money laundering. The sentencing is scheduled for February 14, 2024.
Read our OneCoin reports here.
The $4 Billion Crypto Fraud Scheme
OneCoin‘s MLM network encouraged members to earn commissions by recruiting others to buy cryptocurrency packages, leading to rapid network growth. According to OneCoin’s promotional materials, the scheme attracted over three million investors. Records indicate that OneCoin generated €4.037 billion in sales and €2.735 billion in ‘profits’ within just two years.
Contrary to her official title, Dilkinska’s actions in OneCoin were far from legal compliance. She was integral to the scheme’s operations and played a key role in laundering money, including arranging the transfer of $110 million in fraudulently obtained proceeds to a Cayman Islands entity.
The saga took a dramatic turn when Ignatova was charged with related fraud and money laundering in the U.S. and subsequently vanished after a flight to Athens in October 2017. Added to the FBI’s Top Ten Most Wanted List in June 2022, Ignatova remains at large, with a $250,000 reward for information leading to her arrest.
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