Beware of Frank Schneider & OneCoin – Review

OneCoin scammer Frank Schneider has lost his appeal against extradition to the US.

Multiple news media have reported Schneider’s appeal was dismissed by the Court of Cassation on Tuesday.

Le Quotidien writes;

Nothing seems to stand in the way of the former number 3 of the Luxembourg intelligence services Frank Schneider being extradited from Lorraine, where he presently resides, to the United States.

reports RTL;

The Luxembourgish businessman can now be extradited to the United States, according to the Court of Cassation in Paris, which made this ruling public on Tuesday.

We’ll also add the pay-walled Reporter article for completeness’ sake.

Frank Schneider, a former member of the Luxembourg secret service, may be extradited to the USA from France.

The French Court of Cassation in Paris came to this judgment after dismissing the ex-opposition agents to such extradition on Tuesday.

The French government will ultimately decide whether to extradite Schneider after his appeal against the ruling was denied after he lost his extradition objection.

As I understand it, with the court procedure having played out it’s doubtful they’ll intercede. However, it is uncertain when Schneider’s extradition will be decided.

Hopefully, it’s soon since Schneider (right) just became an even greater potential flight risk.

Pending the conclusion of his extradition procedures, Schneider was freed to his house in Joudreville — barely 30 kilometers from France’s Luxembourg border.

Due to his political ties, it is anticipated that Schneider won’t suffer any consequences in Luxembourg should he depart.

Schneider was formerly the spymaster of Luxembourg. He provided intelligence and oversaw money laundering activities while working closely with the company’s founder, Ruja Ignatova.

Schneider has already acknowledged that he cleaned up money for Ignatova. Schneider claims to have made “four to five million euros” with his business Sandstone.

Given that Mark Scott, who held a lesser position in the OneCoin hierarchy, took home more than $50 million, the true sum Schneider got is probably substantially more.

Charges against Schneider include conspiring to commit electronic fraud and money laundering, according to his US indictment. On an undetermined number of crimes, he faces a sentence of 20 years for each count (the indictment has yet to be made public).

The 53-year-old Schneider anticipates failing in the US. His extradition has been referred to as a “death sentence.”

13th October 2022 update Schneider’s extradition timeline has been clarified in a report by Radio 100.7:

Frank Schneider intends to challenge the extradition if the French government has ordered it before the French Council of State.

It is anticipated that the issue of whether Frank Schneider, who was detained in France, needs to travel to the US, will be resolved by the end of the next year.

Other than wasting time, I don’t think Schneider’s appeal will succeed.

For the time being, I think it is preferable to be detained in your own home than in a brand-new “forever home” jail in the US.

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