Neil Bush, the son of former US president George H.W. Bush, has been roped into the OneCoin scam after it was revealed that he accepted a payment of $300,000 to attend a meeting with Dr Ruja Ignatova, the founder in exile of the $5 billion scam. The revelation emerged as part of the testimony from former OneCoin lawyer, Mark Scott, who is on trial in New York on money laundering and wire fraud charges.
Scott Felt Reassured by Bush’s Presence
The news that the OneCoin scam had stretched as far as the Bush family came last week via a failed subpoena in relation Scott’s trial. Scott claimed that he felt reassured by the presence of Bush in the OneCoin dealings as part of his defense that he didn’t know the project was a scam, despite moving some $400 million dollars for them between various offshore accounts and other avenues. Scott has denied all charges, and his attorney, Arlo Devlin-Brown, used the subpoena in an attempt to get Bush to testify, although this was rejected. Bush was contacted previously by FBI agents investigating the scheme, given that his presence as board member at Hoifu Energy, a Chinese company involved in a $60 million loan deal financed with cash and OneCoin.
OneCoin Still Active
Scott’s trial has so far thrown up some fascinating testimony, chiefly from Dr Ignatova’s brother Konstantin Ignatov, who has confirmed that OneCoin is a “fraud scheme” and that Dr Ignatova frequently went shopping with investor funds. He also alleged that there was a flat in Hong Kong that was used simply to store cash which was subject to a $100 million theft. Incredibly, OneCoin is still an ongoing concern and people from all over the world are still investing in the ‘cryptocurrency’, despite the ongoing court case.