Following guilty pleas by two of the fourteen OneCoin defendants in Argentina, the pair have been sentenced to prison.

Adolfo Domínguez and Aldo Leguizamón will serve three years and six months and four years and three months respectively.

As
reported by La Nacion on November 7th
, Dominguez’s and Leguizamon’s guilty pleas saw them

freely and voluntarily recognize their intentional participation in the crime, that is, having taken part in a criminal organization organization that was dedicated to offering an alleged cryptocurrency.

It was proven that the cryptocurrencies that were offered as a profitable business opportunity did not exist as such.

“They were not real”, but were part of a “ploy used by the defendants to hide a pyramid scheme”.

Argentinian authorities made their
first OneCoin arrests
back in 2020. In 2021 the number of arrested suspects
climbed to fourteen
.

Three additional suspects have been indicted but remain at large;

Ruja Ignatova – OneCoin’s founder,
missing since 2017

Konstantin Ignatov – Ruja’s brother; arrested in the US in 2019, plead guilty and awaiting sentencing

Jose Gordo – Spanish national who oversaw OneCoin scamming in Latin America, OneCoin top earner and still at large and
promoting Ponzi schemes to Latin Americans

It is unclear whether Argentinian authorities have sought an international arrest warrant for Gordo (right).

Believed to be residing in Spain, Spanish authorities have thus far failed to take any action against Gordo.

As of September 2021, the remaining twelve Argentinian OneCoin defendants’ defense was focused on
recruitment of police officers
.

Being a strawman defense that doesn’t excuse their own scamming, it’s unlikely to hold up in court.

La Nacion reports that the “illicit association” component of the OneCoin criminal case is currently at the trial stage. It is unclear when the case will conclude as a whole.

Given the two guilty pleas entered, I’m not anticipating any surprises. Pending conclusion of the case and expected lengthy prison sentences, we’ll keep you posted.

🤖 Quick Answer

What were the prison sentences given to the OneCoin scammers in Argentina?
Adolfo Domínguez and Aldo Leguizamón received prison sentences of three years and six months, and four years and three months respectively, following their guilty pleas in the OneCoin fraud case involving fourteen defendants.

How did the defendants deceive investors in the OneCoin scheme?
The defendants presented non-existent cryptocurrencies as profitable business opportunities, concealing an illegal pyramid scheme. They falsely claimed the cryptocurrencies were real and viable investments while operating as a criminal organization.

What evidence proved the OneCoin cryptocurrency was fraudulent?
Authorities demonstrated that the cryptocurrencies offered by defendants did not actually exist. Investigation revealed the entire scheme was a deliberate deception mechanism designed to perpetrate pyramid fraud and extract money from unsuspecting participants.

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