Following his conviction in November 2019, OneCoin money launderer Mark Scott filed for an acquittal or  new trial in February 2020.

With a decision on that motion pending, new information regarding Konstantin Ignatov perjuring himself saw Scott file a supplemental motion for a new trial in August 2021.

(Scott) argued that, had the jury known that Konstantin lied … it would not have credited Konstantin’s testimony nor, consequently, found Scott guilty of either offense.

On September 14th, 2023, Scott’s motion for a new trial was denied.

In handing down its decision, the court, based on evidence submitted by the DOJ, found Scott (right) committed bank fraud.

The Government identified that the transactions constituting bank fraud “include[d], but [we]re not limited to:” the July 2016 Fenero Funds loan to CryptoReal and the June and September 2016 investments into the Fenero Funds by Fates Group LLC, an entity controlled by Gilbert Armenta.

Scott argues none of the three transactions constituted bank fraud.

The Court holds that the Government proved all three were bank fraud.

Addressing Ignatov lying about disposing of his laptop, the court wrote;

Scott argues this newly discovered evidence of perjury entitles him to a new trial because Konstantin was a key government witness, the jury would not have credited any of Konstantin’s testimony had it known of this perjury, and it therefore would not have found Scott guilty.

The Government, however, argues that Konstantin’s testimony regarding the disposition of the laptop—which occurred after Scott’s crimes—was not material to the jury’s verdict, and Scott extensively impeached Konstantin at trial, so evidence of any perjury related to the laptop would merely have been cumulative.

At minimum, Scott must establish a “reasonable likelihood” that Konstantin’s perjury regarding the laptop could have affected the jury’s verdict.

He has failed to do so.

The entirety of Konstantin’s testimony regarding the laptop was such a small part of his testimony as to be negligible—covering, at most, one or two pages of his testimony, which spanned over three hundred pages in the trial transcript.

Moreover, the disposition of the laptop was a purely collateral matter and was thus unlikely to have impacted the jury’s determination of Scott’s guilt.

In fact, given that Konstantin’s testimony focused primarily on the nature and conduct of OneCoin’s operations rather than of Scott’s participation, and given the overwhelming additional evidence that the Government presented at trial (as discussed above), the Court does not find that Konstantin’s testimony, even taken as a whole, was primarily determinative of Scott’s guilt.

Turns out lying about throwing away a laptop doesn’t negate laundering hundreds of millions of dollars for a criminal enterprise.

After dismantling the rest of Scott’s (mostly technical) arguments, the court concluded

none of Scott’s arguments satisfy his heavy burden under Rule 33 to convince the Court that “a real concern that an innocent person may have been convicted.”

Considering the totality of the circumstances, the Court does not find that “it would be a manifest injustice to let the guilty verdict stand.”

Rather, the Court is “satisfied that competent, satisfactory, and sufficient evidence in the record supports the jury verdict.”

Pending the outcome of his acquittal and retrial motions, Scott’s sentencing has been pending since February 2020.

Following the denial of said motions, Scott’s conviction stands and his case will now proceed towards sentencing.

Based on the charges he was found guilty of, Scott is facing up to fifty years in prison. Scheduling of Scott’s sentencing is expected to take place in the following weeks.

 

Update 20th September 2023 – Mark Scott’s sentencing has been scheduled for December 12th, 2023.