In what is perhaps oblique affirmation Frank Schneider will likely be extradited to the US, the DOJ moved to unseal his indictment.
The court docket granted the DOJ’s request on December fifth.
Schneider (proper) was indicted by a Grand Jury in New York someday after 2019. The beforehand sealed indictment is just not dated so I can’t pinpoint when it was filed.
Schneider was integral to OneCoin rising right into a colossal $4 billion Ponzi scheme. Working as founder Ruja Ignatova right-hand man, Schneider oversaw cash laundering and common intelligence.
Exterior of OneCoin’s Ponzi scheme, Schneider is believed to have tipped Ignatova off to a pending FBI investigation – prompting her disappearance in late 2017.
As per Schneider’s indictment, he’s been charged with two counts of fraud; Conspiracy to Commit Wire Fraud and Conspiracy to Commit Cash Laundering.
SCHNEIDER helped to function a global fraud scheme involving the sale of a purported cryptocurrency often called “OneCoin” – by, amongst different issues, managing the scheme’s proceeds and evading legislation enforcement investigations into the scheme – as a part of which false statements and misrepresentations had been made td solicit people all through the world.
It was additional an element and an object of the conspiracy that FRANK SCHNEIDER, the defendant, and others identified and unknown, would and did transport, transmit, and switch, and try to move, transmit, and switch a financial instrument and funds from a spot in the USA to and thru a spot exterior the USA, and to a spot in the USA from and thru a spot exterior the USA, understanding that the financial instrument and funds concerned within the transportation, transmission, and switch represented
the proceeds of some type of illegal exercise and understanding that such transportation, transmission, and switch was designed in
entire and partly to hide and disguise the character, location, supply, possession, and management of the proceeds of specified
illegal exercise, to wit, proceeds of the wire-fraud scheme.
If convicted, Schneider is going through an as much as 40 yr sentence. At 53, this just about ensures Schneider will die in jail.
The DOJ can also be searching for forfeiture of any funds and/or belongings Schneider straight and/or not directly acquired by OneCoin.
Though Schneider’s extradition has but to be confirmed by the French authorities, the unsealing of his indictment suggests an announcement is imminent.
