OneCoin Legal Head Pleads Guilty, Faces 10 Years in Prison

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OneCoin’s legal chief, Irina Dilkinska, pleads guilty to wire fraud and money laundering charges, potentially facing up to 10 years in prison for her involvement in the alleged $4 billion crypto trading scheme.

Irina Dilkinska Admits to Fraud Charges

Irina Dilkinska, the 42-year-old head of legal and compliance for OneCoin, has admitted guilt in a Manhattan federal court. The charges include one count of conspiracy to commit wire fraud and another count of conspiracy to commit money laundering, revealing her role in what prosecutors describe as a $4 billion global multilevel marketing scheme. 

Eventually, Dilkinska will be sentenced on Feb. 14, 2024, facing a maximum imprisonment of 10 years for both counts against her in the OneCoin scheme.

Background: Where it all began

OneCoin, founded in 2014 in Sofia, Bulgaria, claimed to be a cryptocurrency but is accused by U.S. federal prosecutors of operating more like a pyramid scheme. Dilkinska’s guilty plea is part of a broader case that began in 2017 with charges against OneCoin’s founders, including Ruja Ignatova, known as “the Cryptoqueen.”

Prosecutors contend that instead of fulfilling her role in compliance, Ignatova played a key role in running OneCoin’s daily operations, facilitating money laundering, and orchestrating the transfer of $110 million to a Cayman Islands entity.

Further prosecution alleges that OneCoin operated as a multilevel marketing network, enticing over three million investors worldwide to buy crypto packages. The scheme generated billions in revenue and profits, with members receiving commissions for recruiting others.

Meanwhile, John Buza, Dilkinska’s attorney, stated that she is eager to move past this difficult period and return to her family. 

Dilkinska’s guilty plea comes after Karl Sebastian Greenwood, co-founder of OneCoin, was sentenced to 20 years in prison in September. If convicted on both counts, Dilkinska could face up to a decade in prison.

$250K Reward for Cryptoqueen’s Arrest

Ruja Ignatova remains at large since her last sighting from Bulgaria to Athens in October 2017. The U.S. has issued a federal warrant for her arrest, and the FBI added her to its top 10 most wanted list in 2022. 
Prosecutors are actively seeking information from the public, offering a reward of up to $250,000 for details leading to her arrest.