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OneCoin- Fraud Alert- Review

David Pike, a OneCoin money launderer, was sentenced to two years of probation for his crimes. Inner City Press’s Matthew Lee covered Pike’s sentencing hearing live from the courtroom.

A six-to-twelve-month sentence was recommended by prosecutors in Lee’s report. The lawyer representing Pike asked for a non-incarceration sentence. For two years, Judge Ramos imposed a two-year probationary sentence on Pike.

For the first three months, the area will be monitored 24 hours a day, seven days a week, from 7 p.m. to 7 a.m. Pike took responsibility for his actions in the lead-up to his sentencing.

However, he did not mention OneCoin victims in his apology to the court or his family. In 2019, David Pike was arrested. Prosecutors in the United States have accused him of working with OneCoin co-founder Mark Scott to launder $500 million.

Pike was paid $1.2 million for his efforts. Pike’s boss, Mark Scott, walked away with $50 million. During the investigation, Pike initially lied to the authorities, claiming he was only paid $3500 per month. This sparked an investigation that ultimately resulted in his arrest. In October 2021, Pike pleaded guilty and accepted a $2.09 million fine.

Pike’s escape from prison is disappointing, but at the end of the day, he was working for someone else. OneCoin proceedings in the United States have begun with Pike’s sentencing. The sentencing of Mark Scott, Gilbert Armena, and Konstantin Ignatov is scheduled for the near future.

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