OneCoin launderer David Pike sentenced to 2 years probation
OneCoin money launderer David Pike has been sentenced to two years probation.
Pike’s sentencing hearing was covered by Inner City Press, with Matthew Lee reporting from the courtroom.
As per Lee’s report, prosecutors submitted a six to twelve month sentencing guideline. Pike’s defense attorney requested a non-incarceratory sentence.
Judge Ramos sentenced Pike to two years probation. This will begin with three months of 24/7 location monitoring and a 7pm to 7am curfew.
In the lead up to sentencing, Pike took responsibility for his actions. He apologised to the court and his family but didn’t mention OneCoin victims.
David Pike was arrested in 2019. US prosecutors alleged he worked with Mark Scott to launder around $500 million for OneCoin.
For his efforts Pike was paid $1.2 million. Mark Scott, effectively Pike’s boss, collected $50 million.
Pike initially lied to investigators, telling them he was only paid $3500 a month. This prompted further investigation, which led to his arrest.
Pike pled guilty and submitted to a $2.09 million judgement in October 2021.
While it’s disappointing to see Pike dodge prison, at the end of the day he was working under others.
Pike’s sentencing marks the first judgement in US OneCoin proceedings. Mark Scott (fighting for a retrial), Gilbert Armena and Konstantin Ignatov all await sentencing.
So Pike does much of the work and he only got a fraction of what Scott did in terms of the pay-off?
I hope he nailed Scott. I hope he gets another opportunity if that fat sack of sh*t does get his retrial.
While I’m disappointed Pike didn’t get a custodial sentence after lying to investigators and not apologizing to victims, at least this is some kind of progress. Watch everyone involved now pull out a charitable cause and a special needs dependent.
It appears that Gregory Stevens – the South AFrican CEO of Publicaly listed company Emerge Gaming – (ASX: EM1) has been up to the same game.
All evidence points to him laundering money for the Crowd1 scam. Well worth looking into. Interesting story.
afr.com/companies/games-and-wagering/asx-firm-funnels-cash-for-global-multi-level-marketing-scheme-20210719-p58b3z
Little bit different. Crowd1 has used multiple brands to push their Ponzi scheme over the years.
These brands are all culpable (the people running them get paid) but not necessarily laundering funds on the financial end.
Wow. So, just a bit more than the 18 (14?) month suspended sentence Ruja herself was convicted for in 2016 for the ~€1M embezzlement (of her own employees and suppliers), Bank Fraud and false bankruptcy charges at Waltenhoffen Gusswerks, GmBH in 2012, before heading on her much larger crime sprees.
Also similar, Ruja too lied to the German judge saying she (was a house-keeper) who “lived on a fixed income of €3500 p/mo in Dubai.”
Can somebody who is familiar with US Federal law please explain why Pike forfeited more than he earned laundering? Was the extra amount a fine?
Also in terms of US justice, is this harsh, lenient or to be expected? What does it foretell for the rest of the crew awaiting trial or sentencing?
The amount Pike forfeited was attributable to “the amount of proceeds traceable to the commission of the offense charged.”
What a shame. I had the displeasure of meeting Pike.
From his pleading, he surely knew what was happening and helped create shell companies under Scott that scammed people around the world.
Not only did he launder profits under Scott, he ruined people’s lives and income for many hard working individuals.
Sure he might have lost 2 million, but people who he scammed with shell companies won’t see that money back to them or compensation.
Article from March 2, 2022:
share-your-photo.com/23e3958ea4
news.bloomberglaw.com/white-collar-and-criminal-law/onecoin-fraudster-avoids-prison-for-laundering-scam-proceeds
OneCoin scammer Satendra Kumar Saini from India uploaded a video to this article today:
share-your-photo.com/25c15925f9
youtube.com/watch?v=fhggJr4HXEI
Probably Satendra Kumar Saini again claims that the report is false. See this comment where he also lied:
https://behindmlm.com/companies/onecoin/onecoin-reveals-new-ceo-ventsislav-zlatkov/#comment-449934