OneCoin leader Konstantin Ignatov has his bond application denied

Maria Nikolova

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.

Read this next

blockdag

BlockDAG’s $28.5M Presale Ignites Investor Frenzy! Dashboard Upgrade Unveils Top Rankings, Overshadowing Retik Finance Listings!

Learn how BlockDAG’s updated dashboard, featuring detailed community rankings, is diverting investor interest from Retik Finance’s anticipated market entries.

Digital Assets

Gala Games reportedly hacked for $200 million, token nosedives

The native token of crypto gaming project Gala Games (GALA) dropped sharply amid rumors of a massive transfer worth over $200 million that traders suspected might be a hack.

Digital Assets

Ether skyrockets amid rumors of spot ETF approval

The chances of the U.S. government approving spot Ether ETFs have increased, according to top Bloomberg ETF analysts. Initially viewed as unlikely, analysts James Seyffart and Eric Balchunas now see a 75% chance of approval, up from 25%, following recent developments.

Digital Assets

New York judge approves $2 billion settlement with Genesis

A New York bankruptcy judge has approved a $2 billion settlement between the New York State Attorney General’s office and crypto lender Genesis, marking the largest settlement against a crypto firm in the state’s history.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, ECB, Geopolitical Tensions, May 20 ,2024

Fed holding rates to fight inflation, ECB likely cuts June rates, geopolitical tensions favor safe-haven USD

Digital Assets

Grayscale CEO steps down, replaced by Goldman Sachs veteran

Grayscale CEO Michael Sonnenshein after 10 years with the digital asset investment firm, the company said on Monday.

blockdag

Influencers Fuel BlockDAG’s $28.4M Presale Amid Solana Price Surge & Kaspa Bull Run

Dive into BlockDAG’s presale success, boosted by influencer endorsements. Explore the Solana price surge and Kaspa’s bullish sentiments.

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 20 May, 2024

EURGBP currency pair can be expected to fall further toward the next support level 0.8525, which is the low of the previous corrective wave ii.

Digital Assets

Pump.fun exec arrested for $1.9 million exploit, claims bail in UK

Jarett Dunn, a former employee of the memecoin creator and trading platform pump.fun, claims he was arrested and subsequently released on bail in the United Kingdom following a $1.9 million exploit on the platform.

<