Mark Scott's bid for a new trial is dead. On September 14th, 2023, a federal judge rejected his arguments that he deserved another chance after his November 2019 conviction for laundering money through the OneCoin fraud scheme.

Scott, OneCoin's money launderer, filed for acquittal or a new trial in February 2020. Then in August 2021, after learning that a key government witness—Konstantin Ignatov—had perjured himself on the stand, Scott filed again. He argued the jury never would have believed Ignatov's testimony had they known he lied.

It didn't work.

The court found that Scott had committed bank fraud through three separate transactions. The Government proved all three moved money through the fraudulent pipeline: a July 2016 loan from Fenero Funds to CryptoReal, and June and September 2016 investments into Fenero Funds by Fates Group LLC, which was controlled by Gilbert Armenta. Scott insisted none qualified as bank fraud. The judge disagreed.

As for Ignatov's perjury about disposing of his laptop, the court wasn't impressed. Ignatov lied about something that happened after Scott's crimes were already complete. The testimony covered at most one or two pages of his 300-page trial appearance, the judge noted. It was collateral—a side issue that had nothing to do with whether Scott actually laundered money.

Scott claimed Ignatov was a key witness and that the jury would have rejected everything he said if they'd known about the lie. The Government countered that Ignatov's laptop testimony wasn't material to the verdict anyway, and that Scott had already hammered Ignatov pretty hard during cross-examination. Any new evidence about the perjury would've been repetitive at best.

The judge agreed. Even taking Ignatov's entire testimony as a whole, it wasn't the deciding factor in Scott's conviction. Ignatov testified mainly about how OneCoin operated, not about Scott's personal involvement. The Government had piled on other evidence—lots of it—that painted a damning picture independent of what Ignatov said.

So a witness lying about throwing away a laptop doesn't erase the fact that Scott helped launder hundreds of millions of dollars for a criminal enterprise.

The court systematically dismantled Scott's other arguments—mostly technical objections about legal procedure—and found that none of them met the heavy burden required under Rule 33 to overturn a conviction. The case is effectively over.

🤖 Quick Answer

Who is Mark Scott in the OneCoin fraud case?
Mark Scott served as OneCoin's money launderer, responsible for moving fraudulent proceeds through financial channels. Convicted in November 2019 for bank fraud and money laundering, he attempted multiple legal appeals to overturn his conviction, including motions filed in 2020 and 2021.

Why did Mark Scott's motion for a new trial fail?
The federal judge rejected Scott's arguments on September 14th, 2023. Despite claiming key witness Konstantin Ignatov committed perjury, the court determined sufficient evidence existed proving Scott committed bank fraud through three documented transactions moving money via the OneCoin fraudulent pipeline.

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