David Pike, second OneCoin money launderer arrested
US authorities have arrested a second OneCoin money launderer, David R. Pike.
Pike worked with convicted OneCoin money launderer Mark S. Scott. He was apprehended after lying to federal agents about laundered OneCoin money.
Last December David Pike attended a meeting with FBI, IRS and DOJ.
During the meeting Pike was queried on $400 million Scott laundered for OneCoin, through “private equity funds that Pike helped to manage”.
When asked whether he was aware the funds were tied to OneCoin and/or belonged to Ruja Ignatova, Pike denied having any knowledge.
The DOJ assert this was a lie.
In truth and fact, Pike was aware that the money belonged to Ruja Ignatova and that it was derived from the OneCoin multi-level marketing scheme.
An FBI agent identifies Pike as COO of the infamous Fenero Funds, a series of shell companies Mark Scott set up to launder OneCoin investor funds through.
Scott, who is facing fifty years in prison for his role in OneCoin, was CEO of Fenero Funds.
According to the FBI agent, on the day of Scott’s arrest (September 5th, 2018), Pike confessed he
knew that the money transferred into the Fenero Funds belonged to Ruja Ignatova, the principal leader of the OneCoin fraud scheme.
PIKE further admitted that all of the money was to be returned to Ignatova at some point.
Emails collected as evidence further support Pike knew the money he and Scott were laundering was tied to OneCoin and Ignatova.
As referenced above, in a subsequent December meeting, Pike then denied any knowledge of the source of the laundered funds.
According to evidence collected by US authorities during the course of their investigation, Pike started working with Scott on or around March 2016.
Pike’s efforts to launder OneCoin funds began with his appointment as a director of MSS International Consultants, a shell company Scott set up for Ruja Ignatova.
Through MSSI BVI, DAVID R. PIKE, the defendant, and Mark Scott operated a series of purported private equity investment funds, including Fenero Equity Investments L.P., Fenero Equity Investments II, L.P., Fenero Financial Switzerland L.P., and Fenero Equity Investments (Cayman) I, L.P., (collectively, the “Fenero Funds”).
PIKE and Scott established bank accounts at banks in the Cayman Islands for each of the Fenero Funds.
In his first interview following Scott’s arrest, Pike revealed he
and Scott were responsible for managing approximately €450 million in the Fenero Funds.
Ruja Ignatova was the ultimate beneficial owner of the money transferred into the Fenero Funds.
In other words, all of the money belonged to Ignatova.
Following closure of the Fenero Funds, Scott returned the €450 million laundered to Ignatova. She took the money and disappeared in October, 2017.
In contrast to the $50 million Scott received for laundering OneCoin funds, Pike was paid just $1.2 million.
He would tell US authorities at the December meeting that he only received $3500 a month.
As lying to federal agents is a crime, a warrant was put out. Pike was arrested in Florida on August 30th.
On September 12th Pike was released on a $500,000 personal recognizance bond, plus strict travel restrictions.
Thus far the DOJ has requested two continuances with respect to filing an indictment against Pike.
The second was made on November 13th and requested an additional 30 days continuance.
The stated reason for the request was ongoing discussions regarding ‘charges that might be brought in this case’.
Later the same day the DOJ’s second continuance request was granted, pushing back Pike’s indictment deadline to December 13th.
Update 8th February 2020 – On February 6th the DOJ finally filed David Pike’s superseding indictment.
Update 20th October 2021 – Pike’s plea control date was finally held on October 19th.
As per a filed Consent Preliminary Order of Forfeiture, Pike will surrender $2.09 million as part of his judgment.
Update 2nd March 2022 – On March 1st David Pike was sentenced to two years probation.
Wondering when the moonlearning and Trident Siam, etc., payment channel operators will be held accountable for their participation in Wire Fraud and how “one-off” they may be from Scott and Pike.
I’m a bit confused. Is this article saying he was again arrested?
Or is this article in reference to the August arrest with information now being released on why he was arrested?
Pike’s case was sealed until recently. I only became aware of it during Scott’s trial.
nice:) go on USA!
Here is some speculation how the arrest of David Pike might fit into the bigger picture:
Scott is supposed to file an appeal to his conviction soon. Now the Feds have Scott’s close associate Pike arrested.
If the appeallate court gives Scott a second chance, the Feds have Pike in the reserve as a pontential co-operator.
They’ll offer Pike a good plea deal to testify against Scott, if the case continues.
It’s telling that the prosecutors didn’t deem necessary to bring Greenwood and/or Armenta to testify against Scott — the emails, Konstansnitch, etc. were powerful enough.
They likely have those “big guns” in the reserve too, if the push comes to shove.
Either way, Scott is facing a serious uphill battle if he succees in the appeallate court. Perhaps even to the extent that he might reconsider filing the appeal.
There is a docket: NOLINK://www.courtlistener.com/docket/16197044/united-states-v-pike/
Finally people have strated to notice what Aamer had been doing:
Waiting for Robert Courtneidge and Frank Schneider reporting. Incredible that nobody has made Jean-Claude Juncker happy by exposing Frank-the-mafia-mole.
Oh, that Frank Schneider?
“this case is about truth in democracy and about honour and respect for the years of service and sacrifice that I made to my country”
but he still appealed for more monetary damages.
Now Phoenix Fund has issued a response. OneCoin investors should take notice that nothing prevents from commenting about ongoing investigations:
OneCoin should have issued a similar kind statement if they weren’t cowardly criminals not willing to defend the scam in public.
only way to make money out of onecoin is to raport top-scammers to SEC
you can file it anonymously. happy hunting.
Thank you Konstantin Ignatov for snitching — now these criminals can’t “horse around” anymore like they used to:
With even the august Racing Post now reporting on it, the news has really reached the highest circles.
It is supposed to be the only newspaper HM Queen Elizabeth II reads every day. We are told she gets all the British dailies on her breakfast table, in a pile that has to be in the exact same order every day.
The one on top of the pile, and the only one she always looks at even if she can’t be bothered to look through any of the others, is the Racing Post.
And really, who needs the Serious Fraud Office to get involved when the British Horseracing Authority is now on the case?
Any updates? The docket hasnt been touched since November 15.
I follow the same public docket you are 😀
No docket update means no case update unfortunately.
“Pre-indictment disposition” seems to mean that David Pike looking for a plea deal:
It’s bad news for Mark S Scott and his planned post-trial motions.