William Morro has been arrested and charged by the United States Justice Department for bank fraud related to the OneCoin crypto scheme. The charges come after Morro allegedly transferred $35 million in funds from bank accounts in China to one in Hong Kong in 2016. It is further alleged that Morro moved over $6 million from the Hong Kong account to a U.S. account that he controlled, as part of a fraudulent scheme. Morro surrendered to authorities and pleaded guilty to one count of conspiracy to commit bank fraud. He has been released on his own recognizance until his sentencing hearing in August.
The Justice Department has issued an order of forfeiture related to the illicit assets connected to the OneCoin case. Reports suggest that Morro is linked to Gilbert Armenta, the boyfriend of OneCoin founder Ruja Ignatova. Armenta was sentenced to five years in prison in 2023 for laundering around $300 million tied to the OneCoin scheme. Morro holds positions as a managing partner of the InterAmerican Group and a board member of AEE Power.
It is unclear what specific information led U.S. officials to bring these charges against Morro, approximately eight years after the alleged fraudulent actions occurred. The Justice Department has previously charged several individuals involved in the OneCoin scheme, including lawyer Mark Scott, former head of legal and compliance Irina Dilkinska, and co-founder Karl Sebastian Greenwood. Ignatova, also known as the ‘CryptoQueen,’ has been charged in the U.S., but remains at large and is currently on the FBI’s list of the ten most wanted fugitives.
According to court filings on April 23, Morro has retained the legal services of Mark Cohen and Jonathan Abernethy from the law firm Cohen and Gresser. Cohen is well-known for representing Sam Bankman-Fried during his 2023 criminal trial, where Bankman-Fried, the former CEO of FTX, was convicted of seven felony counts and sentenced to 25 years in prison.
OneCoin, founded in 2014, was exposed as a fraudulent cryptocurrency scheme in 2015, defrauding investors out of approximately $4 billion. In Morro’s case, the charge of conspiracy to commit bank fraud carries a potential sentence of up to 30 years in prison.
I can’t believe that Ruja Ignatova, the mastermind behind OneCoin, is still on the loose. She needs to be brought to justice and pay for her crimes.
The involvement of attorney Mark Scott, Irina Dilkinska, and Karl Sebastian Greenwood sheds light on the intricate web of fraud surrounding the OneCoin scheme. It’s like a real-life crime thriller!
Wow, this article is mind-blowing! William Morro’s arrest definitely shows that justice is being served. 💪 It’s great to see that the United States Justice Department is taking a strong stance against fraud in the crypto world. 🚀
The order of forfeiture related to the OneCoin case is an important step towards recovering illicit assets. It’s a victory for all those who were affected by the OneCoin scheme.
billion defrauded?! The scale of this OneCoin scheme is mind-boggling. It’s heartbreaking to think of the victims who lost their hard-earned money.
It’s infuriating to see how long these fraudsters were able to operate and exploit innocent people. The regulatory bodies need to step up their game to protect unsuspecting investors.
I wonder what evidence the U.S. officials had that finally led to the arrest of Morro. It’s crucial for them to follow the money trail and bring all involved to justice.
It’s intriguing that the article mentions Gilbert Armenta, the boyfriend of OneCoin founder Ruja Ignatova. The connections between Morro and individuals involved in the scheme make this case even more captivating.
Managing partner of the InterAmerican Group and a board member of AEE Power? William Morro seemed like somebody in a position of power and trust! This goes to show that even those in influential positions can be involved in fraudulent activities. 😱
It’s disheartening to see how easily these scammers managed to move millions of dollars across different bank accounts. The banking system needs stronger safeguards against fraudulent activities.
It’s concerning that Ignatova, the alleged mastermind behind OneCoin, is still at large. This case highlights the need for international cooperation in apprehending criminals involved in fraud schemes.