Gilbert Armenta’s OneCoin crimes called for a 100 year sentencing guideline.

In the lead up to his sentencing, Armenta’s lawyers asked for time served due to the conditions at MCC New York.

The DOJ asked for seven years, stating that “any sentence of less than five years’ imprisonment would not (be appropriate).”

Following a “lengthy sentencing proceeding” on February 16th, Gilbert Armenta has been sentenced to five years in prison.

At time of publication Armenta’s criminal case docket has yet to reflect his sentencing. The DOJ also hasn’t put out a press-release.

When those circumstances change, I’ll leave an update below.

In the meantime a vlog from Inner City Press’ Matthew Lee gives a rundown of the proceedings.

Konstantin Ignatov was also scheduled to be sentenced on February 16th. Due to his ongoing cooperation agreement with the DOJ however, this was pushed back to May 17th.

I believe the holdup there is resolution of Mark Scott’s case.

Konstantin Ignatov is the brother of OneCoin founder and wanted fugitive Ruja Ignatova.

Mark Scott laundered $400 million for OneCoin and served as the head of its US-based money laundering operations.