News of Mark Scott and Sebastian Greenwood: Appeals Denied in OneCoin Case
The long-running legal drama surrounding the infamous OneCoin cryptocurrency scam took another turn this week, as appeals by two of its key figures Mark Scott and Sebastian Greenwood were firmly rejected by the court.
For victims of the notorious Ponzi scheme, it’s a moment of small but meaningful justice.
Sebastian Greenwood, widely recognized as the architect behind the multi-billion-dollar scam, had sought to have his 20-year prison sentence reduced, or possibly overturned altogether.
It’s a bold move for a man who played a central role in one of the biggest financial frauds in history, one that left over 3.6 million people worldwide out of pocket.
A onecoin Mastermind Unrepentant
Greenwood’s appeal centered on the claim that the district court had miscalculated his sentence by factoring in both domestic and international losses incurred through the OneCoin operation.
He also argued that the length of his sentence was “substantively unreasonable” given the circumstances.
However, the court rejected these arguments without hesitation. In its ruling, the court made it clear that the fraudulent conduct involving international transactions was intrinsically linked to the broader OneCoin scheme.
“The OneCoin conduct that occurred over foreign wires was relevant conduct because it was part of the same common scheme or plan as the domestic conduct,” the court stated.
For many, Greenwood’s appeal was nothing short of audacious.
After years of orchestrating a scheme that preyed primarily on the poor and vulnerable through an elaborate multi-level marketing (MLM) scam, it was difficult for critics to sympathize with his plea. Many believe that if anything, Greenwood was fortunate to avoid a life sentence.
Mark Scott’s Appeal Also Falls Flat
Greenwood wasn’t alone in attempting to challenge the justice system. Mark Scott, a former corporate lawyer who once served as legal counsel for OneCoin founder Ruja Ignatova, also saw his appeal denied.
Scott had been convicted of conspiring to commit money laundering and bank fraud after helping to funnel hundreds of millions of dollars on behalf of OneCoin.
In his appeal, Scott raised several claims:
1. That the court erred by denying his request for a new trial based on alleged perjury by Konstantin Ignatov, Ruja’s brother and a key witness.
2. That certain pieces of evidence were wrongfully excluded as hearsay.
3. That the court had quashed a subpoena for businessman Neil Bush.
4. That there was insufficient evidence to support his convictions for both money laundering and bank fraud conspiracy.
Despite these claims, the appellate court found no merit in Scott’s arguments, reaffirming the original conviction.
Voices of the Onecoin Victims
To understand the human side of this story, we reached out to Daniel Leinhardt, a former victim of the OneCoin scam who has since become a respected crypto journalist and podcaster.
“They’re just fraudsters trying to use money to complicate justice,” Leinhardt remarked. “I hope the courts stay sharp and refuse to entertain these appeals. These are greedy MLM mafias looking for a way out.”
Leinhardt’s own experience with OneCoin transformed his life. After losing money to the fraudulent scheme, he channeled his frustration into activism and education.
With support from a growing community, he launched a podcast and a YouTube channel aimed at exposing financial scams and educating the public about genuine blockchain and cryptocurrency technologies.
A Cautionary Tale
The downfall of Greenwood, Scott, and others involved in OneCoin serves as a stark reminder of the dangers lurking within the world of unregulated financial schemes.
It also highlights the resilience of victims like Leinhardt, who turn personal loss into a public mission.
While appeals from fraudsters may continue, this week’s rulings send a clear message: justice, however delayed, remains firmly on the side of the victims.
