Mark Scott, an American lawyer, has been found guilty for his role in the notorious OneCoin crypto scam, which attracted over 5,15 billion USD from investors all over the world.

A court in New York found that Mark Scott participated in the scheme and helped to launder close to 400 million USD, routing the money out of the U.S. through banks on the Cayman Islands and the British Virgin Islands to the United Arab Emirates.

According to the prosecution Scott made about 50 million USD for himself, for which now he faces up to 50 years in prison.

Part of the money were also laundered through account at the Bank of Ireland.

"OneCoin used the success story of Bitcoin to induce victims to invest under the guise that they, too, could get rich through their investments. This was, of course, completely false because the price of OneCoin was a fiction and not based on supply and demand”, the prosecution said.

Earlier this week Konstantin Ignatov, brother of the so called Crypto Queen Ruja Ignatova, who founded the infamous OneCoin crypto scam, pleaded guilty to charges of money laundering and fraud.

For the time being Ignatova remains at large.