New York Southern District Court Proceeds Against David Pike Allegedly Linked To OneCoin Ponzi Schem
The New York Southern District Court granted a continuance in the lawsuit against David Pike over his alleged link to the OneCoin Ponzi scheme.
https://t.co/Q8TxhwHqXA — Il Separatio23 (@Matthewdaless10) December 23, 2019
On December 21, it has been reported by FinanceFeeds that the continuation of the case was approved until January 12, 2020, based on court documents filed on December 20.
However, Nicholas Folly, the Assistant United States Attorney, reportedly stated that the parties’ counsels are discussing a potential pre-indictment disposition. The extension has been deemed as appropriate, given that those discussions are still taking place.
It has been analyzed that Pike was the Chief Operating Officer of an alleged private equity fund known as the “Fenero Funds.” Those funds were reportedly employed to launder money from the OneCoin Ponzi scheme.
Likewise, Pike is accused of having made materially false statements and representations in front of special agents from the FBI, the IRS Criminal Investigation Division and the United States Attorney’s Office for the Southern District of New York representatives.
Moreover, the defendant is alleged to have falsely claimed that he was not aware that roughly $400 million was transferred into the aforementioned fund belonged to Ruja Ignatova, the Founder of OneCoin, or that the money came from the scheme.