Konstantin indictment stay suggests DOJ cooperation
Under the Speedy Trial Act, the DOJ had until April 26th to file an indictment or information pertaining to Konstantin Ignatov.
An April 26th filing reveals continues negotiations between Konstantin’s attorney and the DOJ.
Ignatov, as head of the OneCoin Ponzi scheme, was arrested and charged with conspiracy to commit wire fraud last month.
A preliminary hearing, which was expected to provide an update on Konstantin’s case, was scheduled for April 26th.
On the same day the DOJ filed an application for an order of continuance.
In an affirmation supporting the order, an Assistant United States Attorney writes;
Defense counsel and I have had discussions regarding a possible disposition of this case continuing to as recently as April 22, 2019.
The negotiations have not been completed and we plan to continue our discussions, but do not anticipate a resolution before the deadline under the Speedy Trail Act expires on April 26, 2019.
The DOJ requested a thirty-day continuance, which was consented to by Konstantin and his attorney.
The DOJ’s application has been granted. This means that pending disposition of the case, a preliminary hearing will be held on or around May 27th.
Regarding the possible disposition, no details of negotiations between the DOJ and Konstantin have been made public.
The following is pure speculation on my part.
It’s no secret that by the time Konstantin took the reigns of OneCoin the real criminals, such as his sister Ruja, had already fled.
Konstantin was still heavily involved in OneCoin and I doubt will be able to negotiate his way out of prison time, but there are bigger fish to fry.
To that end Konstantin’s connection to Ruja (remember he had power of attorney), means that he’s valuable as a knowledge asset.
If what Konstantin knows can be accessed as part of a plea bargain, I’d imagine that’d strengthen the DOJ’s case.
Part of that is eventually nabbing Ruja but bear in mind we don’t know what else the DOJ might be up to.
A big question mark remains over the status and location of the bulk of the money invested into OneCoin (last estimated to be around four billion).
As was revealed with the arrest of Mark Scott, Ruja didn’t launder the billions that was invested into OneCoin on her own.
Pending disposition of Konstantin’s case or a scheduled late May preliminary hearing, stay tuned…