- British Onecoin associate Christopher Hamilton will face justice in the U.S. for allegedly laundering $105 million
- Hamilton was alleged to have conducted the crime through several British companies
- Hamilton has been fighting extradition since 2019 but lost yesterday
Former Onecoin associate Christopher Hamilton will be extradited from the UK to the United States to face charges of money laundering and wire fraud stemming from the Onecoin scam. Hamilton is accused of helping launder a portion of the $4 billion stolen from investors in the huge Onecoin operation, which has seen other operators sentenced to prison and the founder, Dr Ruja Ignatova, famously on the run.
Hamilton Channelled $105 Million Through His Company
Hamilton owned a series of companies under the Viola name, one of which was a UK company that was listed as being involved in test drilling and tunnel boring with an annual turnover of £250,000. However, suddenly in November 2015, $19 million was transferred into the company account and converted into euros via an intermediary foreign exchange company, with the majority then being sent on to Georgia.
This was followed in February 2016 by a further transfer of €37 million, which Hamilton claimed to police was for the purchase of a Sri Lankan tea company. A City of London Police investigation was launched in March 2016 after receiving intelligence that a UK bank account was suspected of being used for organised and international money laundering.
Biggest Ever UK Money Seizure
Hamilton was arrested in May 2019 at his home in South Wales, where City of London Police found him in possession of bankers’ drafts worth $35 million in what is the biggest ever money seizure made by UK law enforcement. An extradition battle has raged ever since, with another Onecoin associate, Robert McDonald, also facing the same fate.
Police accused Hamilton of allowing Gilbert Armenta, a Florida financier linked to Ignatova, to channel tens of millions of dollars in Onecoin funds through Viola, with Hamilton presumably taking a slice off the top for himself as payment.
Extradition Ordered for Hamilton
The pair’s legal teams attempted to have the extradition order blocked, arguing that the alleged crimes took place in the UK and that it was almost impossible to know where most of the harm from the Onecoin fraud occurred. Lawyers for the U.S. argued that in fact the conduct occurred in the U.S. as the funds flowed to and from bank accounts there and that the case concerns cross-border crime.
The judge sided with the U.S. authorities, but McDonald’s extradition was blocked on compassionate grounds given that he is caring for his “extremely ill wife”. Hamilton, however, will now face justice in the U.S., where several Onecoin accused have already been sentenced to time in prison.
