DeIriana Dilkinska, head of legal and compliance of cryptocurrency pyramid scheme OneCoin, pled guilty on wire fraud and money laundering charges on Nov 9th.
According to a press release by the Department of Justice, the cryptocurrency platform OneCoin began its operation in Bulgaria during 2014. The company marketed and sold a fraudulent cryptocurrency through a multi-level-marketing (MLM) network. Globally, over $4 billion was invested by victims in the fraudulent cryptocurrency. The MLM structure rapidly influenced the growth of OneCoin to potential investors of crypto. Over three million people invested in the fraudulent cryptocurrency packages. Between Q4 of 2014 and Q4 of 2016, OneCoin generated €4.037 billion in sales revenue and earned “profits” of €2.735 billion.
CryptoNews reported that Dilkinska faces up to 10 years in prison for her role in OneCoin's notorious crypto fraud and its scheme. She confessed to laundering $110 million in illicit profits generated through OneCoin and assisting in running day-to-day operations at the firm. OneCoin was founded by Ruja Ignatova and Karl Sebastian Greenwood. The company engaged in a database entry scam that mimicked false transactions from a real blockchain when there was no mining that actively supported the circulation of the cryptocurrency. Ignatova has been on the run from multiple international law enforcement agencies since 2017 while Greenwood received a 20-year prison sentence in Sept. of 2023 for defrauding 3.5 million investors and allocating firm funds for personal luxurious expenses.
"As OneCoin’s so-called ‘Head of Legal and Compliance’ Irina Dilkinska accomplished the exact opposite goal of her position," said U.S Attorney Damian Williams "As she has now admitted, Dilkinska facilitated the laundering of millions of dollars of illicit profits OneCoin accrued through its multi-level-marketing scheme." Williams added that dedicated prosecutors and law enforcement partners will continue to pursue the case until every defendant is brought to justice.
