{"id":2085,"date":"2026-06-22T09:01:28","date_gmt":"2026-06-22T09:01:28","guid":{"rendered":"https:\/\/floridamovingchronicle.com\/?p=2085"},"modified":"2026-06-22T09:01:28","modified_gmt":"2026-06-22T09:01:28","slug":"ex-coral-gables-attorney-begins-10-year-sentence-for-global-crypto-fraud","status":"publish","type":"post","link":"https:\/\/floridamovingchronicle.com\/?p=2085","title":{"rendered":"Ex-Coral Gables attorney begins 10-year sentence for global crypto fraud"},"content":{"rendered":"<article><!-- --><!-- --><!-- WPS-5038 -- removed the script from WPS and added the placeholder for trinity player --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- --><!-- CONTENT --><!--[--><!--[--><\/p>\n<p>A Coral Gables attorney who played a central role in a billion-dollar global cryptocurrency scam has started his 10-year sentence at a Miami federal prison earlier this month after a lengthy trial and appeals process.<\/p>\n<p>Read more <a href=\"https:\/\/floridamovingchronicle.com\/?p=2083\">Voter-fraud accusations roil one of Miami\u2019s largest condos<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Federal prosecutors had indicted the attorney, Mark S. Scott, in New York in 2018 for money laundering and bank fraud. He was convicted and sentenced six years later but was initially incarcerated at home with an ankle monitor pending his appeals.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Prosecutors had charged Scott, a former partner at Locke Lord, a Brickell law firm now called Troutman Pepper Locke, for his role in abetting Ruja Ignatova \u2060\u2014 a Bulgarian \u00e9migr\u00e9 to Germany, once dubbed the \u201cQueen of Cryptocurrency\u201d \u2060\u2014 and her company OneCoin.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>The Miami Herald has <u>previously reported<\/u> on how OneCoin was later investigated in multiple countries for perpetrating a Ponzi scheme worth $4 billion, $400 million of which Scott helped launder.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Prosecutors alleged that private equity investment funds Scott set up in 2016 in the British Virgin Islands received the illicit funds.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>\u201cHe cleaned the fraud money that he knew was dirty by setting up phony investment funds and lying to banks and other financial institutions to make it look like the OneCoin fraud proceeds were actually profits from legitimate businesses that had nothing to do with OneCoin,\u201d assistant U.S. attorney Julieta V. Lozano told the jury.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>These firms all had the word \u201cFenero\u201d in their names and federal prosecutors referred to them as the \u201cFenero Funds.\u201d Scott administered all the \u201cFenero Funds\u201d via an offshore British Virgin Islands firm and a Florida company, MSS International Consultants.<\/p>\n<p>Read more <a href=\"https:\/\/floridamovingchronicle.com\/?p=2081\">Take a look at World Cup fans at the stadium in Miami for Cape Verde vs. Uruguay<\/a><\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Lozano alleged that Scott made numerous transfers out of the bank accounts held by the firms in investments that were actually \u201cdummy transactions used as cover for moving OneCoin fraud money back to Ruja [Ignatova].\u201d Assistant U.S. attorney Nicholas Folly also alleged that \u201cRuja paid Mark Scott $50 million\u201d for his services.<\/p>\n<p><!--]--><!--[--><\/p>\n<p>Federal prison records show that Scott is currently an inmate at FCI Miami, a low-security federal prison near Zoo Miami.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>Federal judge Edgardo Ramos also ordered several luxury properties that Scott bought with the illicit funds to be forfeited to the federal government. Scott has to forfeit more than $5 million in two dozen bank accounts, two Porsches and a seven-bedroom seaside mansion in Cape Cod, Massachusetts.<\/p>\n<p><!-- --><!--]--><!--[--><\/p>\n<p>OneCoin\u2019s founder, Ignatova, faces charges of wire and securities fraud and money laundering, but she mysteriously disappeared in late 2017. Her last known footprint was a flight from Sofia, the Bulgarian capital, to Athens in Greece.<\/p>\n<p><!--]--><!--[--><!-- --><!--]--><!--[--><\/p>\n<p>The Federal Bureau of Investigation has  her among its top 10 Most Wanted criminals and is offering a reward of up to $5 million for information on her whereabouts.<\/p>\n<p>Read more <a href=\"https:\/\/floridamovingchronicle.com\/?p=2079\">Police investigating officer-involved shooting near Miami Shores village limits<\/a><\/p>\n<p><!-- --><!--]--><!--]--><!-- --><!-- --><!-- --><!-- --><!-- --><\/article>\n","protected":false},"excerpt":{"rendered":"<p>Mark S. Scott, a former Coral Gables attorney, has begun serving a 10-year sentence for his role in a billion-dollar global cryptocurrency fraud scheme.<\/p>\n","protected":false},"author":1,"featured_media":2084,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-2085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-Coral Gables attorney begins 10-year sentence for global crypto fraud - Florida Moving Chronicle<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/floridamovingchronicle.com\/?p=2085\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-Coral Gables attorney begins 10-year sentence for global crypto fraud - Florida Moving Chronicle\" \/>\n<meta property=\"og:description\" content=\"Mark S. 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