On the same day he was arrested, William Morro was arraigned before a Judge.

At his arraignment Morro pled guilty to one count of conspiracy to commit bank fraud.

Pending filing of a Presentence Investigation Report, Morro (right) is scheduled to be sentenced on August 1st, 2024.

Morro was part of OneCoin’s US money laundering efforts led by Mark Scott. Morro worked closely with Gilbert Armenta to launder “approximately $30 million” in stolen OneCoin investor funds.

Morro laundered investor funds to bank accounts in China to elsewhere in the world, including the US. So as not to trigger suspicion, Morro concealed from the banks that the funds he was laundering were tied to OneCoin.

Having been already convicted, Gilbert Armenta was sentenced to five years in prison in February 2023.

Mark Scott was sentenced to ten years in prison in January 2024. Scott’s sentence is currently under appeal.