OneCoin fraudster Frank Schneider has lost his appeal against extradition to the US.
Multiple news sources have reported Schneider’s appeal was rejected by the Court of Cassation on Tuesday.
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 currently resides, to the United States.
On Tuesday, the Court of Cassation in Paris announced its decision to allow the extradition of the Luxembourgish businessman to the United States.
And for good measure we’ll also include the paywalled Reporter piece;
The former employee of the Luxembourg secret service, Frank Schneider, can be extradited from France to the USA.
This is the conclusion reached by the French Court of Cassation in Paris, which on Tuesday rejected an objection by the ex-agent against such extradition.
Having lost his objection to extradition and now appeal against that decision, a final decision on Schneider’s extradition rests with the French government.
As I understand it, with the judicial process having played out it’s unlikely they’ll intervene. When a decision will be made on Schneider’s extradition however will be unclear.
Hopefully it’s soon as Schneider (right) just became an even higher probability flight-risk.
Pending the outcome of his extradition proceedings, Schneider was released to his residence in Joudreville – just 30 km from France’s Luxembourg border.
Should Schneider flee, due to his political connections, it’s expected he’ll face no repercussions in Luxembourg.
Schneider is a former Luxembourg Spy Master. He worked directly with founder Ruja Ignatova, providing intelligence and overseeing money laundering operations.
Schneider has already admitted he laundered money for Ignatova. Through his company Sandstone, Schneider claims he made “four to five million euros”.
Given Mark Scott, who was lower on the OneCoin totem pole, pocketed over $50 million, the actual amount Schneider received is likely to be much higher.
Schneider’s US indictment details charges relating to conspiracy to commit electronic fraud and launder money. He is facing 20 years per count on an unknown number of counts (the indictment has yet to be made public).
Schneider, 53, expects to lose the case in the US. He has described his extradition as a “death sentence”.