The former compliance chief of OneCoin — a 2015 crypto scheme that defrauded investors out of $4 billion — has pleaded guilty to wire fraud and money laundering charges in Manhattan federal court.
In a Nov. 10 statement, the Department of Justice (DOJ) said that U.S. District Judge Edgardo Ramos had accepted 42-year-old Irinia Dilkinska’s guilty plea.
“Head of Legal and Compliance” for multibillion-dollar cryptocurrency pyramid scheme “OneCoin” pleads guiltyhttps://t.co/E656236UXh
Dilkinska pled guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit laundering. Each charge carries a maximum potential sentence of five years in prison.
“OneCoin’s so-called ‘Head of Legal and Compliance’ Irina Dilkinska accomplished the exact opposite goal of her position,” said U.S. Attorney Damian Williams in the statement.
“As she has now admitted, Dilkinska facilitated the laundering of millions of dollars of illicit profits OneCoin accrued through its multi-level-marketing scheme.”
The prosecution found that despite her role as the head of compliance for OneCoin, Dilkinsa played a key role in laundering money for the scheme. At one point Dilkinsa facilitated the transfer of $110 million in fraudulently obtained proceeds to an entity in the Cayman Islands.
Dilkinska’s sentencing is scheduled for Feb. 14, 2024 — where she faces a maximum sentence of 10 years in prison for her role in the OneCoin scheme.
The Department of Justice first charged Dilkinska with one count of wire fraud and one count of conspiracy to commit money laundering on March 21.
OneCoin was founded in 2014 by “Cryptoqueen” Ruja Ignatova and Karl Sebastian Greenwood. Greenwood has since been sentenced to 20 years in prison on fraud and money laundering charges, while also being ordered to pay $300 million in restitution.
Ignatova, however, remains at large, having gone missing in October 2017 after a flight to Greece just 15 days after a federal warrant was issued for her arrest.
OneCoin was exposed as fraudulent in 2015 but still managed to generate over $4.3 billion in revenue, recording profits of nearly $3 billion between Q4 2014 and Q4 2016.
“Shy” Reform voters in Labour areas led to Nigel Farage’s party winning the Runcorn by-election by just six votes, Labour peer Harriet Harman said.
The Runcorn and Helsby seat, created in 2024, went to Reform UK’s Sarah Pochin who defeated Labour candidate Karen Shore by six votes.
Reform overturned a 34.8% majority gained by former Labour MP Mike Amesbury last year before he stood down earlier this year after he punched a constituent on a night out.
It is the closest by-election result since records began in 1945.
“So, there’s a real level of frustration and I’m sure there’ll be a post-mortem, but I think there’s a lot of talk about shy Reform voters in Labour areas.”
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In the local elections, running at the same time, the Conservatives lost control of all 18 councils it was contesting, with Reform taking eight of those.
Image: Harriet Harman on the Electoral Dysfunction podcast
Baroness Harman said Labour now has “got to get on with delivering on the health service” and pointed out the minimum wage increase and breakfast clubs are only just being rolled out.
But she said the government also needs “more of a story” instead of just telling people to “bear with us” while it fixes what the Conservatives did.
“It seems to be that Farage has got no delivery, as yet, and all the story, whereas the government is really getting on with delivery, but it hasn’t got a big enough story about what that fits,” she said.
Image: An installation represents a bus stop during Reform UK’s local elections campaign launch in Birmingham. Pic: Reuters
She added that “Blue Labour” MPs – a socially Conservative wing of the Labour Party – “will be emboldened to press for further action” on issues like immigration, which they want to see a tougher stance on.
“There’s been grumbling about the big salience of the concerns of the winter fuel payment, but I don’t see there being any change on that,” she said.
Baroness Harman said she does not think the by-election and local election results were “utterly predictable” and will not lead to any splits or instability within the party.
Kemi Badenoch has apologised to Tory councillors who lost their seats after Reform made massive gains at the Conservatives’ expense in Thursday’s local elections.
The Conservative leader said she knew it was “disappointing” and that she was “sincerely sorry”, but added: “We are going to win those seats back – that is my job now.”
The Tories lost overall control of all 18 councils they had been in charge of that were up for election. There were 23 councils in the race in total.
A particularly bad loss was Buckinghamshire, which has been under Tory control since 1973 when local government was reorganised. The Conservatives lost overall control by just one seat after losing 29 seats.
Reform, which has never run in local elections before, gained eight councils from the Tories, one that had no overall control previously and one from Labour – the only Labour council up for grabs in this election.
Image: Nigel Farage with the new Runcorn and Helsby MP Sarah Pochin. Pic: Reuters
The Lib Dems won Shropshire from the Tories, as well as Cambridgeshire and Oxfordshire – both of which had no overall control before.
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The Conservatives had one win, with Paul Bristow being voted in as Cambridgeshire and Peterborough mayor, previously held by Labour.
Reform’s first major win of the election was the Runcorn and Helsby by-election where Labour lost to Reform by six votes. It was triggered by ex-Labour MP Mike Amesbury resigning after his conviction for punching a constituent.
Sir Keir Starmer said he “gets” why his party suffered defeat there and the results show “we must deliver that change ever more quickly, we must go even further”.
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3:05
Tories suffer heavy defeats
Addressing the Conservatives’ abysmal results, Ms Badenoch said: “Other parties may be winning now, but we are going to show that we can deliver and that we are on course and recovering.
“But they [the public] are still not yet ready to trust us,” she added.
“We have a big job to do to rebuild trust with the public.
“That’s the job that the Conservative Party has given me, and I’m going to make sure that we get ourselves back to the place where we are seen as being a credible alternative to Labour.”
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4:47
Farage: ‘This is Reform-quake’
Ms Badenoch said Labour’s election results showed Sir Keir Starmer “is on course to be a one-term prime minister”.
However, when asked if she would still be leader at the next general election, Ms Badenoch dodged the question and said: “I’m not playing all these questions that the media loves to ask about my future.
“This is not about me.”
She insisted she was the right person to lead the Conservatives, as she was chosen by the party’s members.
“I told them it wouldn’t be easy, I told them it would require a renewal and rebuilding of our party,” she said.
“That doesn’t happen in six months. I’m trying to do something that no one has ever done before, which is take their party from such a historic defeat back into government in one term.”
Beth Rigby, Harriet Harman and Ruth Davidson assemble for an elections debrief.
Beth’s been following a very happy Nigel Farage after Reform gained an MP in Runcorn, took the Greater Lincolnshire mayoralty and seized control of several councils.
But, how does the party promising change in its very name prove itself with greater power and responsibility?
They also discuss how Sir Keir Starmer reacts to Labour’s losses (Harriet says he needs to deliver on what he’s promised).
And what Kemi Badenoch has to do after a terrible set of results for the Conservatives (Ruth reckons it’ll be worse for the 2026 set of elections).