OneCoin victims drop complaint against two defendants in US lawsuit

Maria Nikolova

The victims have filed a motion to dismiss their claims against Irina Andreeva Dilinska and Sebastian Greenwood.

Victims of OneCoin who are suing the fraudulent cryptocurrency scheme and a number of individuals linked to it have decided to drop their claims against two of the defendants in the lawsuit brought at the New York Southern District Court.

On February 28, 2020, the plaintiffs filed a notice of voluntary dismissal as to defendants Irina Andreeva Dilinska and Sebastian Greenwood.

Let’s recall who these defendants are.

Irina Andreeva Dilinska served as the head of OneCoin’s legal and compliance department. She functioned as a high-level executive, promoter, and spokesperson for the OneCoin organization on all matters relating to investigations into OneCoin’s operations by various countries and enforcement bodies throughout her tenure. Additionally, Dilinska served on the board alongside Mark Scott of at least two investment funds used to launder proceeds obtained from the OneCoin Investment Programs.

Sebastian Greenwood is believed to be domiciled in Sweden. He is a co-founder of OneCoin, has been described as the “public face of OneCoin,” served as an affiliate/recruiter for the OneCoin Investment Programs, and successfully solicited hundreds if not thousands of OneCoin investors in the United States and abroad through social media sites and public appearances.

Greenwood, along with Ruja Ignatova, had previously created BigCoin in early-2014, the predecessor of OneCoin.

Greenwood’s expertise was in the area of marketing, and he played a key role in devising the multi-level marketing structure of the OneCoin Investment Programs as well as organizing its worldwide army of recruiters/promoters and preparing the sales materials they used to lure investors to deposit funds with OneCoin.

In their notice of dismissal filed with the Court on February 28, 2020, the plaintiffs state that this action shall be dismissed without prejudice against Greenwood and Dilinska.

The Notice of Voluntary Dismissal is not intended to have any effect on any claims asserted by any other parties to this litigation, or the defenses to those claims. Likewise, the dismissal of the plaintiffs’ claims without prejudice as to Greenwood and Dilinska will have no impact or effect on the ability of any plaintiff or putative class member to file a complaint asserting any claims against Greenwood or Dilinska in the future; as neither Greenwood nor Dilinska have filed an answer or a motion for summary judgment in response to the claims lodged against them in this action.

Moreover, no class has been certified in the action.

The Notice of Voluntary Dismissal was reviewed and referred to Judge Valerie E. Caproni for approval.

As FinanceFeeds has reported, the plaintiffs in this case represent all individuals and entities who transferred to the OneCoin defendants, directly or indirectly, any fiat currency or cryptocurrency to invest in OneCoin Trader Packages or OneCoins from April 2014 through to and including March 2018 and who suffered financial injury as a result thereof.

Read this next

Industry News

Celsius $750m insurance claims are fraud, says lawyer seeking EU crypto superfund

“It is an intentional deception in aid of a billion-dollar securities offering.”

Institutional FX

DGCX brokers authorized to provide derivatives trading and clearing services

The DFM is looking to provide multiple asset classes such as; equities, ETFs, equities’ futures, crude oil futures, etc. to meet the growing demand from its diversified base of local and international investors.

Digital Assets

EQONEX leaves “crowded crypto exchange space” amid crypto winter

“The recent extreme market volatility and declining trading volumes have added to the headwinds being felt by exchange operators. We take a realistic view that our exchange will not move the needle for us financially over the near-to-medium term.”

Digital Assets

FTX and Paradigm partner for spreads trading: lower risk, lower fees

“This structured spread trading product is the first that will enable crypto investors to utilize cash and carry trades through FTX and Paradigm.”

Industry News

SEC uncovers online retail brokerage hacking scheme

Fraudsters were able to sell their holdings at artificially high prices and reap more than $1 million in illicit proceeds, the SEC alleged. 

Executive Moves

Cornerstone FS taps James Hickman as CEO

“I see great potential in the business from its proprietary technology to its regulatory permissions. It is already delivering an exceptional service to its SME customers and the scalable platform is ideally positioned to add further product capability.”

Retail FX

FCA warns of Lite Forex Pro as crackdown on clone scams continues

The UK Financial Conduct Authority has put out a press release that warns about a new ‘clone firm’ investment scam impersonating LiteForex‎, which rebranded last year as LiteFinance.

Digital Assets

Novogratz’s Galaxy Digital backs out of $1.2 billion deal to buy BitGo

Crypto merchant bank Galaxy Digital would not move forward with its bid to buy digital-asset custodian BitGo.

Executive Moves

OctaFX elevates Nikolas Charalampous to executive director role

OctaFX has promoted its head of dealing, Nikolas Charalampous, to the role of executive director, which saw the expansion of his day-to-day responsibilities and oversight.