OneCoin money laundering attorney Mark Stanley Scott has been disbarred in New York.
The decision was made in an opinion published by the New York State Law Reporting Bureau on October 29th.
The reason cited for Scott’s disbarment is his OneCoin money laundering and bank fraud convictions.
These convictions stem from respondent’s involvement in a wire fraud scheme in which $400 million in cryptocurrency was transferred to and from accounts in the United States and foreign locations, as well as his role in defrauding federally backed financial institutions of moneys and other property through the misrepresentation of material facts.
Despite Scott (right) having yet to be sentenced, New York judiciary law ‘provides for automatic disbarment when an attorney is convicted of a felony.’
The court found Scott’s money laundering conviction failed ‘to meet this standard’. The conspiracy to commit bank fraud conviction however was enough.
Scott had argued his pending conviction acquittal motion meant that disbarment proceedings in New York were premature. The argument was rejected.
That said, if Scott somehow prevails in his motion, he’s free to seek an overturn of his disbarment.
As of October 29th, Scott’s name was stricken from the New York attorney roll backdated to November 21st, 2019.
He has also been commanded ‘to desist and refrain from the practice of law in any form in the State of New York’.
Scott had been a practicing attorney in New York since 1996.
As of 1998 Scott was also admitted in Florida. A decision on his standing there remains suspended, pending the outcome of Scott’s acquittal motion.
Following multiple delays, Scott is currently scheduled to be sentenced on December 17th.