The U.S. Department of Justice (DOJ) has reviewed the case against Frank Schneider, who served as crisis manager for the $4 billion scam project OneCoin.
OneCoin was a crypto-based Ponzi scheme led by Bulgarian national Ruja Ignatova in 2014. The scam project collapsed in 2017 after raising nearly $4 billion from investors in 175 countries. Since then, authorities around the world, including the DOJ, have pursued the mastermind.
Luxembourg-born Frank Schenider served as OneCoin’s crisis manager and reportedly worked closely with Cryptoqueen.Given his close ties to the project’s founders, the Justice Department sought his extradition to the U.S.
As early as September 24, 2020, DOJ motion Against Sheneider.But until the charges against him are sealed December 5, 2022, When U.S. Attorney Damian Williams authorizes the opening of a motion to start Sheneider’s trial.
An arrest warrant has been issued against Schneider, who is scheduled for extradition to the United States, and he will face trial in Southern District Court on two charges of wire fraud and money laundering.
If found guilty, Schneider risks facing up to 40 years in prison, in addition to the confiscation of all assets and monetary gains from the OneCoin scam.
DOJ Tracking OneCoin Mastermind
CryptoQueen is still on the run, but other close allies in the OneCoin scam have been prosecuted.
British citizen Christopher Hamilton was reportedly extradited to the US in early August for trial with the DOJ.
one coin lawyer Mark Scott He faces a 20-year prison sentence after being indicted in November 2019 for laundering about $400 million from a scheme.
The FBI is reportedly working with Konstantin Ignatov to track down his “most wanted” sister.