Beware of OneCoin – Review Part 5

Christopher Hamilton, a OneCoin money launderer, will be sent from the UK to the US for extradition.

Tuesday saw Hamilton’s attempt to evade extradition fail. The judge rejected Hamilton’s argument that he should go to trial in the UK since the majority of the fraud he perpetrated took place outside of the US.

The fact that the UK has shown little interest in pursuing OneCoin fraudsters, as reported by Law360 (paywalled), further tips the scales in favor of extradition;

There appears to be a little hint, much less certainty, of prosecution here in the U.K., according to Judge Rimmer, who highlighted that The City of London Police discontinued their investigation into OneCoin in 2019.

Wherever the victims are located, Judge Rimmer ruled, “it is in their interests for offenders implicated to be punished rather than not to be. In support of extradition, this factor.

The judgment still has to be approved by the UK Secretary of State after Hamilton has the opportunity to appeal.

Robert McDonald, Hamilton’s accomplice in crime, escaped extradition for humanitarian reasons.

McDonald won his case because the extradition would unfairly violate his right to respect for family life, according to the judge.

McDonald has stated “clear and real suicide intent,” the court’s ruling states, “in the event, he was to be extradited,” and is the caregiver for his “very ill” wife who has progressive multiple sclerosis.

Again, I presume McDonald’s gets away with it as the UK has shown little interest in pursuing OneCoin fraudsters.

According to Judge Rimmer, McDonald

There is no proof that Robert MacDonald received financial gain (or indications e.g. such as a lavish lifestyle).

Christopher Hamilton is charged with a crime in the US, but specifics of the case have not yet been made public. In anticipation of Hamilton’s real extradition to the US, I assume that his indictment is sealed.

OneCoin is thought to have received assistance from Hamilton in laundering GBP 75 million. Through Viola Money, a UK shell firm that Hamilton previously used to launder money from the OmegaPro Ponzi scheme, Hamilton laundered the monies.

Hamilton has not yet submitted an appeal. It is unknown how long that process will take to complete and/or if the Secretary of State will sign off after.

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