Briton succeeds against US extradition over $4 billion OneCoin fraud

Our client's, Christopher Hamilton, extradition was requested by USA for him to stand trial for offences of conspiracy to commit money laundering and a conspiracy to steal. The total value of the funds involved in their offending is approximately $100 million.

It was alleged that our client conspired with others to launder tens of millions of dollars, which were the proceeds of the OneCoin fraud and stole approximately $32 million in criminal proceeds from their co-conspirators. OneCoin Ltd. markets a purported digital cryptocurrency called "OneCoin" through a global multi-level marketing network, which, in reality is a fraudulent pyramid scheme.

OneCoin was founded by Ruja Ignatova, one of the USA Federal Bureau of Investigation’s top 10 most wanted fugitives. One of the money launderers was Gilbert Armenta (‘GA’), who received $150 million of funds derived from the fraud into US, began a relationship with a UK-based business owned and controlled by Chris Hamilton. The case involved complex evidence gathering of a number of expert witnesses from the states, including experts in prison conditions. The main issue was whether it was in the interests of justice for extradition to be granted by reasons of forum.  

It was this argument that succeeded on appeal. Read here.

See press coverage on this case here:

• The Economic Times - British Man Cannot be Extradited to US over Fake Cryptocurrency Scheme
• Daily Mail - EXCLUSIVE Anti-fraud police left red-faced after boasting of seizing record £30m from scammer only to be ordered to hand it back
• The Times - Firm 'linked to scam' had FCA approval

Katy Smart, Fiona Haddadeen, and Marlon Grossman acted on this case. Ben Lloyd andAdam Payter of 6 Kings Bench Walk were instructed counsel on this case.