More time sought in cryptocurrency appeal – News – capecodtimes.com

NEW YORK — A corporate lawyer who was convicted late last year in federal court for his role in the $400 million international OneCoin cryptocurrency scheme is seeking more time to argue an appeal and an extension to his scheduled sentencing date.

During a three-week trial in a New York federal court in November, prosecutors said Mark Scott, 51, set up a series of fake investment funds in the Virgin Islands, which he used to launder hundreds of millions of dollars of fraudulent proceeds.

U.S. Attorney Geoffrey Berman said in his statement at the trial that Scott “lined his pockets with over $50 million of the money stolen from victims of the OneCoin scheme.”

OneCoin, founded in 2014 in Sofia, Bulgaria, was a massive pyramid fraud scheme, conceived for the express purpose of defrauding investors, Berman said. The scheme generated 3.353 billion euros in revenue between the third quarter of 2014 and fourth quarter of 2016.

Scott was arrested in September 2018 on his way…