New York County Courthouse.
New York County Courthouse. Wikipedia

The New York Southern District Court granted a continuance in the lawsuit against an individual who is allegedly linked to the fraudulent cryptocurrency scheme OneCoin, FinanceFeeds reported on 21 December.

According to the filed court documents, David Pike’s trial will be postponed until 12 January 2020, with the order being issued in response to the U.S. authorities who started the action against him.

Assistant United States Attorney Nicholas Folly reportedly explained that the extension was appropriate, considering the parties’ counsels were discussing a potential pre-indictment disposition.


Pike was the Chief Operating Officer of a purported private equity fund, known as the “Fenero Funds”, which was reportedly used by the OneCoin Ponzi scheme to launder money.

The N.Y. Southern District Court accuses Pike of having made materially false, fictitious, and fraudulent statements and representations to special agents from the FBI, the IRS Criminal Investigation Division, and the court itself.

Allegedly, Pike falsely stated that he was unaware of a $400 million transfer to the Fenero Funds, which belonged to the founder of the OneCoin scheme, Ruja Ignatova, or that the money came from the scam.

Pike and OneCoin’s lawyer, Mark Scott, are the ones allegedly responsible for laundering money for Ruja Ignatova. As previously reported, Scott was found guilty of laundering $400 million on behalf of the cryptocurrency ponzi scheme back in November.