If you ever wondered what day to day life was like in a $4 billion dollar Ponzi scheme, Konstantin Ignatov’s witness testimony is probably your best bet.

BehindMLM reader WhistleBlowerFin has graciously made available transcripts from Scott’s trial late last year.

In addition to his
pre-trial testimony
and
live reporting
from the
Inner City Press
, the following testimony is from Mark Scott’s November 2019 trial.

Konstantin Ignatov was questioned by the DOJ and cross-examined by Mark Scott’s attorney Arlo Devlin-Brown.

I’ve done my best to quote the transcript with minimal editing. There is some overlap between Konstantin’s pre-trial testimony and Inner City Press’ reporting, but I’ve done my best to minimize it.

When combined, I believe all three sources make for compelling reading to anyone who’s been following OneCoin.

OneCoin’s blockchain audit reports were fraudulent

Despite evidence to the contrary, OneCoin long held it’s blockchain was audited.

An audit report was made available on OneCoin’s website. Naturally no specifics were provided, with the report coming off as little more than an “everything is legit” rubber stamp.

As part of his defense, Mark Scott’s attorneys wanted to present the jury with a copy of one of the audits.

The day prior, Konstantin Ignatov testified that the audit report was “fraudulently prepared”.

Didn’t Mr. Ignatov testify yesterday that this report was prepared, it was fraudulently prepared, and it was put up on the website?

MR. FOLLY: Your Honor, he did.

Note that the topic of audit legitimacy has come up before, following
subpoenaed emails revealing fake coins
were part of OneCoin’s fraud.

Despite the provided blockchain audit report being fake, ultimately the court allowed the defense to admit it as evidence (with respect to Scott’s state of mind, not whether the report was legitimate or not).

After Ruja Ignatova disappeared OneCoin’s IT staff, cited as “Momchil and Ivan”, confessed to Konstantin ‘
that the blockchain is not exactly what it should be.
‘

During an afternoon of drinking at the office a few months later, Irina Dilkinska told Konstantin that OneCoin had “distributed more coins than were mined”.

Dilkinska likened soliciting investment from OneCoin investors to “selling people air”.

Konstantin Ignatov faked contact with Ruja after her disappearance

After Ruja Ignatova disappeared in October 2017, her brother Konstantin took her place as the head of OneCoin.

In this role, Konstantin regularly claimed to be in contact with Ignatova. This lead to
multiple excuses
covering up her disappearance.

In his testimony, Konstantin admitted he lied about having contact with his sister.

Q. During this time period (after Ruja disappeared), were you in touch with Ruja?

A. No.

Q. Did you make representations that you were in touch with Ruja?

A. Yes, I did.

I was, for example, presenting at OneCoin events, mentioning that I’m still in touch with Ruja, that she’s still in the decision

🤖 Quick Answer

Who is Konstantin Ignatov and what is his significance in the OneCoin case?
Konstantin Ignatov is a key witness in the prosecution of OneCoin, a fraudulent cryptocurrency scheme. His testimony provided crucial insights into the operational structure and daily mechanisms of the multi-billion dollar Ponzi scheme, making him instrumental in legal proceedings against OneCoin's leadership.

What documents are available regarding Konstantin Ignatov's testimony?
Transcripts from Konstantin Ignatov's testimony are available from multiple sources: his pre-trial deposition, live reporting from Inner City Press covering Mark Scott's November 2019 trial, and official court records. These documents collectively document his questioning by DOJ prosecutors and cross-examination by defense attorney Arlo Devlin-Brown.

What role did Konstantin Ignatov play in the OneCoin organization?
Konstantin Ignat

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