OneCoin Plaintiffs Succeed in Reopening the Class-Action Against the Ponzi Scam

The re-opening of the class action suit will provide the defendant and plaintiff draft a joint schedule by May 8th

Victims of the fraudulent cryptocurrency, OneCoin, have recently persuaded the Judge to reopen the case reports BehindMLM. As per the claims made, a letter expressed the viewpoints of both plaintiffs and defendants. Obviously, the former wants justice, while the latter prefers to have further legal processes halted once and for all.

Valerie Caproni, the judge that presided over the case, lifted the stay and provided the defendant with a deadline for submission of 8th May. Within this time, the defendant must be prepared to answer outstanding complaints.

For the time being, OneCoin's members Mark Scott and David Pike are currently in the eyes of the justice system for laundering money from the accounts. In particular, Scott was convicted back in November 2019, while Pike has been talking to the DOJ and could end up pleading guilty.

In the confines of the class action suit, Scott and Pike face separate charges of money laundering and bank fraud.

Interestingly many players seem to have been involved in this scam. An example is that of Florida attorney, Nicole Huesmann, who played the role of laundering funds through Mumbelli Group. Additionally, former head, Konstantin Ignatov, and his sister, Ruja were also involved – where the trio is holding a neutral position in lifting the stay.

As per Behind MLM, plaintiffs have since been advised to file a proposed schedule by Friday, 5/8/2020.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Goldman Sachs’ Lazy Bitcoin Assessment is Embarrassing

Crypto community has been eagerly awaiting Goldman Sachs’ client call today in which they were to discuss bitcoin. But it all turned out to be...

Crypto Derivatives Exchange ErisX, Opens API Service for BCH, BTC, ETH, and LTC Block Trading

ErisX REST API will now grant registered clients access to their Block Trade platform. This will be a reserve for the Institutional investors...

Polkadot’s Chain Candidate Goes Live in Anticipation for the Proof of Stake (PoS) Version

Polkadot's initial mainnet has been launched by Web3 Foundation and Parity Technologies according to a blog post on May 26. This much anticipated sharding...

Bitfury Announces Bitcoin Mining Investment Program For Institutional Clients

Bitfury, one of the oldest Bitcoin mining firms established back in 2011, has announced a Bitcoin mining investment program for institutional investors on May...

7 Bullish Ethereum Charts that says Ether is “Significantly Undervalued”

The price of Ether might still be struggling around $200 but its fundamentals are screaming bullish. Post Black Thursday sell off, Ether has been seeing...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today