NY Judge scolds OneCoin’s co-conspirator over moot application for more time

Maria Nikolova

David Pike’s application for extension of time to reply to the complaint launched by victims of OneCoin has been nixed by the Court as moot.

The formal procedures involved in the lawsuit brought by customers of fraudulent crypto scheme OneCoin appear to be confusing for some of the parties in the case. This was exemplified on September 26, 2019, as Judge Valerie E. Caproni of the New York Southern District Court denied as moot a motion for extension of time filed by one of the defendants in the lawsuit – David Pike.

David Pike is an alleged co-conspirator of OneCoin who worked alongside Mark Scott, a former attorney. The so-called “Scott defendants” have allegedly aided and abetted the fraudulent cryptocurrency scheme.

As FinanceFeeds has reported earlier this week, David Pike submitted a Letter Motion with the New York Southern District Court asking for 30 additional days, that is, until October 30, 2019, to respond to the complaint. The reason for the requested extension of time to file response is that the case is complex and the defendant needs to retain counsel and that the counsel has to prepare an appropriate response.

On September 26, 2019, Judge Valerie E. Caproni signed an order denying as moot Pike’s Motion for Extension of Time. The Judge explained that all proceedings in this case have been stayed. Mr. Pike’s answer is not due until further order by this Court.

The plaintiffs in this case will have to provide monthly updates on the status of service on each of the defendants. According to the latest such report, service has not yet been executed on a number of defendants, including “crypto queen” Ruja Ignatova.

According to the victims of OneCoin, from 2016 through in or about 2018, the Scott defendants provided substantial assistance to the OneCoin Defendants’ fraudulent scheme by laundering in excess of $400 million of OneCoin’s fraud proceeds thereby affirmatively assisting the OneCoin Defendants (Konstantin Ignatov, Ruja Ignatova, Sebastian Greenwood and Irina Dilinska) in defrauding OneCoin investors and evading regulatory scrutiny and international law enforcement efforts by concealing the OneCoin Defendants unlawful, immoral and fraudulent conduct which has caused, and is continuing to cause, significant financial harm to the plaintiffs.

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