Monday, May 20, 2024

Irina Dilkinska, previously in charge of legal and compliance at Onecoin, has admitted guilt to charges of wire fraud and money laundering. These accusations stem from her involvement in facilitating the movement of $110 million, obtained deceitfully, to an organization based in the Cayman Islands.

The Illicit $110 Million Transfer

The U.S. Attorney for the Southern District of New York, Damian Williams, announced that Irina Dilkinska, formerly responsible for legal and compliance affairs at Onecoin, has confessed to charges of wire fraud and money laundering. This announcement came in a press statement dated November 9, where Williams elaborated that Dilkinska played a crucial role in the illegal transfer of $110 million to a Cayman Islands-based entity.

Onecoin, established in 2014 by Ruja Ignatova, known as the Cryptoqueen, and her associate Karl Sebastian Greenwood, functioned as a pyramid scheme under the guise of a multi-level marketing network. It encouraged its members to recruit others for buying cryptocurrency packages. News reported that although Onecoin accrued billions for its founders, it resulted in significant losses for numerous investors.

Following the U.S. indictment of Ignatova in October 2017 for fraud and money laundering, several Onecoin executives have received prison sentences. Greenwood, who held significant positions within Onecoin, was sentenced in September 2023 to a 20-year term in a U.S. prison, over five years post his arrest in Thailand.

Neglect of Professional Responsibilities

Commenting on Dilkinska’s guilty plea, Williams observed:

“Irina Dilkinska, who was supposed to oversee legal and compliance matters for Onecoin, did precisely the opposite. She has acknowledged her part in laundering the illegitimate profits generated by Onecoin’s deceptive operations.”

He further stated that his office, along with law enforcement partners, remains committed to ensuring all involved, including the absconding Ignatova, are held accountable.

Per the press release, Dilkinska, a Bulgarian citizen, risks a maximum penalty of five years imprisonment for each of the charges of conspiracy to commit wire fraud and money laundering.

We invite your views on this development. Share your thoughts in the comments below.

Frequently Asked Questions (FAQs) about Money Laundering

What are the charges against Irina Dilkinska?

Irina Dilkinska, the former head of legal and compliance at Onecoin, has pleaded guilty to wire fraud and money laundering charges. These charges are related to her involvement in the transfer of $110 million in fraudulently obtained funds to a Cayman Islands entity.

What is Onecoin, and who founded it?

Onecoin was founded in 2014 by Ruja Ignatova, also known as Cryptoqueen, and Karl Sebastian Greenwood. It operated as a multi-level marketing (MLM) network that encouraged members to recruit others to purchase cryptocurrency packages.

What happened to the founders of Onecoin?

Ruja Ignatova, the co-founder of Onecoin, faced fraud and money laundering charges in the United States in October 2017 but remains a fugitive. Karl Sebastian Greenwood, another co-founder and leader of the MLM network, was sentenced to 20 years in a U.S. jail in September 2023.

What is the maximum penalty that Irina Dilkinska faces?

Irina Dilkinska, a Bulgarian national, faces a maximum penalty of five years in prison for each of the charges, including conspiracy to commit wire fraud and money laundering.

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