OneCoin class-action stay lifted, case is back on
Plaintiffs in the OneCoin class-action have convinced the Judge to reopen the case.
On April 28th a joint letter informed the court of both the plaintiff’s and defendant’s current positions.
Plaintiffs wanted the case to continue, arguing that all remaining defendants have now been served.
This meant that the condition the case was stayed under last August has been satisfied.
Defendants Mark Scott, David Pike object to lifting of the stay.
Scott and Pike, both members of OneCoin’s money laundering team, want to wait for the outcome of their respective criminal cases before proceeding.
Scott was convicted of fraud last November. Pending any more delays due to medical reasons, Scott is scheduled to be sentenced on July 14th.
Pike is cooperating with the DOJ. As of last month it is believed Pike will plead guilty at some point.
Nicole Huesmann, a Florida attorney, allegedly assisted Scott with laundering OneCoin funds through Mumbelli Group.
Huesmann maintains the New York court the class-action is being heard in lacks jurisdiction over her.
To avoid submitting to jurisdiction of the court, Huesmann maintains no position on the lifting of the stay.
Konstantin Ignatov, former head of OneCoin behind his sister Ruja, didn’t object to continuation of the stay.
On May 1st the court held a telephonic hearing on whether the stay should be lifted.
Later that same day the court ordered the stay lifted, meaning that despite Mark Scott’s and David Pike’s objections, the lawsuit will proceed.
The court has directed plaintiffs to file a proposed schedule by May 8th. Stay tuned…