A corner cryptocurrency scam, Irina Dilkinska, the former legal and compliance manager of the fraudulent scheme, was sentenced to four years in prison. This verdict, handed down by U.S. District Judge Edgardo Ramos, marks another milestone in the legal repercussions faced by those involved in the multibillion-dollar Ponzi scheme.
The verdict: four years behind bars for OneCoin's legal manager
Irina Dilkinska, 42, suffered the consequences of her actions as she was sentenced to four years in prison, accompanied by one month of supervised release and a restitution order of $111 million.
Despite Dilkinska's request to avoid imprisonment and return home to care for her children in Bulgaria, Judge Ramos remained steadfast in his decision, emphasizing Dilkinska's culpability in this massive fraud scheme.
Reprimand from the judge: “A woman of great intelligence who should have done better”
Judge Ramos minced no words in his assessment of Dilkinska's role in the OneCoin scam, describing her as “a woman of great intelligence” who should have been aware of the legal consequences of her actions. Expressing bemusement at Dilkinska's continued involvement in the scheme despite her inevitable downfall, Judge Ramos emphasized the seriousness of the crimes committed in the $4 billion Ponzi scheme.
The Rise and Fall of OneCoin: A Caution
OneCoin, founded by Ruja Ignatova and Karl Sebastian Greenwood in 2014, promised investors guaranteed returns through its cryptocurrency, OneCoin.
However, the company's façade crumbled when it was revealed that no functioning blockchain existed, and OneCoin operated as a pyramid scheme, relying on recruiting new investors to survive. Ignatova, nicknamed the “Cryptoqueen,” remains at large, avoiding arrest since her disappearance in 2017.
Despite being exposed as fraudulent in 2015, OneCoin managed to generate over $4.3 billion in revenue, highlighting the pervasive nature of cryptocurrency scams.
Read also: Crypto Ponzi Scheme: SEC Charges 17 Individuals in Alleged $300 Million Scam