The DOJ moved to make Frank Schneider’s indictment public, which could be a sign that he will be sent to the US.
On December 5, the court said yes to the DOJ’s request.
Schneider was charged by a New York Grand Jury in 2019. The indictment that was sealed before is not dated, so I don’t know when it was filed.
Schneider was an important part of how OneCoin turned into a $4 billion Ponzi scheme. Schneider was the right-hand man of the company’s founder, Ruja Ignatova. He was in charge of money laundering and general intelligence.
Schneider is thought to have told Ignatova about an upcoming FBI investigation that had nothing to do with OneCoin’s Ponzi scheme. This is what caused Ignatova to go missing in late 2017.
Schneider has been charged with two types of fraud: conspiracy to commit wire fraud and conspiracy to commit money laundering.
SCHNEIDER helped run an international fraud scheme involving the sale of a fake cryptocurrency called “OneCoin.” He did this by, among other things, managing the scheme’s proceeds and avoiding law enforcement investigations into the scheme. As part of the scheme, false statements and misrepresentations were used to get people all over the world to buy OneCoin.
It was also part of and the goal of the conspiracy that FRANK SCHNEIDER, the defendant, and others, both known and unknown, would and did transport, transmit, and transfer, and try to transport, transmit, and transfer, a monetary instrument and funds from a place in the United States to and through a place outside the United States, and a place outside the United States to a place in the United States through a place outside the United States, knowing that the monetary instrument and funds involved
Schneider could get up to 40 years in prison if he is found guilty. At 53, Schneider is almost certain to die in prison because of this.
The DOJ also wants Schneider to give back any money or property he got directly or indirectly through OneCoin.
Even though the French government hasn’t confirmed Schneider’s extradition yet, the fact that his indictment has been made public suggests that an announcement is coming soon.
Changes for December 7, 2020 – According to the order to unseal the indictment, Schneider’s new indictment happened on September 24, 2020.
We don’t know when the original charge was filed, but it had to be between 2017 and 2020 since Ruja Ignatova’s charge was filed this year.