Irina Dilkinska sentenced to 4 years for her participation in the OneCoin scam, a major cryptocurrency fraud case. Dilkinska admitted to aiding money laundering and wire fraud within OneCoin, a pyramid scheme. The founders of OneCoin became rich through deception; Dilkinska will lose more than $111 million.
Irina Dilkinska, former legal chief of OneCoin, faced a four-year prison sentence. Federal District Judge Edgardo Ramos handed down the sentence. Dilkinska’s conviction is a pivotal moment in the battle against the OneCoin scam.
Instead of ensuring OneCoin was operating within legal and regulatory parameters, prosecutors say Bulgarian national Irina Dilkinska helped with the scheme’s day-to-day operations and, after its collapse in 2016, helped executives launder its ill-gotten profits. having worked with American companies.
Dilkinska, 42, was extradited to the United States in March 2023 and charged with one count of conspiracy to commit wire fraud and conspiracy to commit money laundering. She pleaded guilty to both charges in November 2023. New York District Court Judge Edgardo Ramos also ordered Dilkinska to forfeit $111.4 million.
Dilkinska is the latest OneCoin executive to be jailed for her role in the scam, which began in Bulgaria in 2014 and closed in early 2017.
Irina Dilkinska’s Key Role in OneCoin Scam
Dilkinska admitted involvement in wire fraud and money laundering conspiracies. The case led by Damian Williams, United States Attorney for the Southern District of New York, sheds light on the extensive OneCoin fraud in the following terms:
“Irina Dilkinska’s involvement in the sprawling OneCoin pyramid scheme was a flagrant breach of conduct. Rather than upholding the law and embracing her position as the Head of Legal and Compliance, she facilitated and committed money laundering, aiding in the exploitation of millions of victims. As Dilkinska learned today, this Office will hold accountable every perpetrator of the OneCoin scheme, no matter where they may hide.”
OneCoin, founded in Sofia, Bulgaria, by Ruja Ignatova and Karl Sebastian Greenwood, was essentially a pyramid scheme disguised as a cryptocurrency company. The lifeblood of the scheme was its MLM model, which enriched founders through deceptive strategies. Dilkinska, who was entrusted with legal and compliance oversight of OneCoin, instead facilitated the scheme’s financial misconduct.
OneCoin’s co-founders promoted the fictitious cryptocurrency, which never existed on any blockchain, through a kind of multi-level marketing scheme, paying initial investors to attract more investors. When OneCoin was revealed to be a scam, an estimated 3.5 million people had fallen victim.
Dilkinska orchestrated the laundering of $110 million to a Cayman Islands company. Consequently, she must lose $111,440,000, reflecting her important role in the fraud.
Investigation into the OneCoin Cryptocurrency Scam
The investigation into OneCoin, one of the largest cryptocurrency frauds in history, continues to unravel its complex web of deceptions. The scheme attracted more than three million people around the world, exploiting their aspirations for financial advancements similar to the success of Bitcoin.
Additionally, Dilkinska’s sentencing follows Greenwood’s 20-year prison sentence for masterminding the OneCoin scam. Their lavish lifestyle, financed through fraud, stood in stark contrast to the financial devastation faced by investors.
The OneCoin saga also involves the mysterious disappearance of co-founder Ruja Ignatova, known as “the Cryptoqueen.” Ignatova has been on the run since 2017, evading charges of fraud and money laundering.
His current status remains a subject of intense speculation and research interest, and rumors circulate about her still-unconfirmed disappearance.
By Leonardo Perez
