In November 2019, Mark Scott was found guilty of two felony charges related to bank fraud and money laundering in connection with the OneCoin cryptocurrency scheme.
On January 25th, he was sentenced to 10 years in prison by Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York.
Scott had been awaiting sentencing since his conviction, which included charges of conspiracy to commit bank fraud and conspiracy to commit money laundering.
Initially, prosecutors recommended a minimum sentence of 17 years, while Scott's legal team advocated for a five-year sentence.
Before receiving his sentence, Scott expressed sympathy for the victims of the OneCoin scheme.