OneCoin leader Konstantin Ignatov has his bond application denied
Ignatov, who stands accused of conspiracy to commit wire fraud, has had his bond application denied by Judge Edgardo Ramos of the New York Southern District Court.
A brief update on the US proceedings against Konstantin Ignatov, the leader behind cryptocurrency scheme OneCoin who stands accused of conspiracy to commit wire fraud…
In a minute entry on Friday, June 28, 2019, the New York Southern District Court said a Bond Hearing was held before Judge Edgardo Ramos as to Konstantin Ignatov. The defendant was present with counsel Jeffrey Lichtman and Jeffrey Einhorn. AUSA Chris Dimase and SAUSA Julieta Lozano were present. The defendant’s bond application was denied.
The defense counsel had proposed release conditions including GPS location monitoring of Ignatov and $10 million in cash and properties securing a $20 million personal recognizance bond. Further, the defendant had agreed to pay for 24-hour armed guards to ensure that he does not flee. Only pre-authorized individuals would have been permitted inside his residence. Ignatov agreed not to use cellphones, nor a computer, apart for purposes of reviewing discovery and note taking.
Earlier this week, the Government argued that neither the conditions proposed by Ignatov in his request, nor any other combination of bail conditions, will reasonably assure his appearance in this case or protect the community from the danger posed by him. The authorities noted that Ignatov has no ties whatsoever to the United States, possesses citizenship and other ties to countries that will not extradite to the United States, has engaged in extensive international travel, and has access to massive foreign financial resources.
“He simply cannot be trusted to comply with any conditions set by the Court, having already lied to U.S. border agents, investigating case agents, and even the very Pretrial Services Officers tasked with evaluating appropriate bail in this case”, the US Government said.
