Frank Schneider, a disaster supervisor in OneCoin’s $4 billion Ponzi scheme, may quickly be extradited to the USA, the place he faces wire fraud and cash laundering costs.

The U.S. Division of Justice (DOJ) initially filed a movement in opposition to Schneider, a Luxembourg citizen, in September 2020.

On December fifth, 2022, Damian Williams, the U.S. legal professional on the New York Southern District Courtroom, initiated the graduation of Schneider’s trial by unsealing the movement. 

Frank Schneider is predicted to be extradited to the U.S. based mostly on the arrest warrant issued by the court docket. He’ll face a trial on wire fraud and cash laundering. Along with forfeiting all his property and cash obtained from the OneCoin rip-off, he may face 40 years in jail.

Nonetheless, within the coming days, Schneider could enchantment as he did in July. 

What occurred to different masterminds behind OneCoin

A Bulgarian nationwide, Ruja Ignatova, initiated OneCoin, a crypto-based Ponzi scheme, in 2014. After elevating over $4 billion from buyers throughout 175 nations, the venture collapsed in 2017. Since then, legislation enforcement businesses worldwide, together with the U.S. Division of Justice (DOJ), have been searching down the group’s leaders.

In June, the FBI positioned OneCoin creator Ruja Ignatova, aka ‘Crypto Queen,’ on its Prime 10 Most Needed listing.

Crypto Queen’s brother, Konstantin Ignatov, was taken into custody and charged with wire fraud, securities fraud, and cash laundering offenses in March 2019

Mark Scott, the OneCoin lawyer, has been charged with laundering practically $400 million from the scheme and is a 20-year jail sentence.

Christopher Hamilton, a member of the Rip-off venture, was extradited to the U.S. in August. 


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