William Morro has pleaded guilty to conspiring to commit bank fraud related to the OneCoin cryptocurrency scam, which defrauded investors of approximately $4 billion.

On April 23, 2024, the United States Justice Department charged William Morro for his role in the OneCoin fraud. According to the indictment filed in the U.S. District Court for the Southern District of New York, Morro is accused of transferring $35 million from China-based bank accounts to Hong Kong in 2016, allegedly for OneCoin's operations. He then moved over $6 million from the Hong Kong account to a U.S. bank account under his control, which authorities consider a fraudulent act.

Morro voluntarily surrendered to the authorities and admitted to one count of conspiracy to commit bank fraud. He is currently out on his own recognizance, with sentencing scheduled for August 1.

Morro's legal team, Mark Cohen and Jonathan Abernethy from Cohen and Gresser, has a history of representing clients in significant financial fraud cases. Their involvement suggests the complexity and severity of the charges against Morro.

The indictment links Morro to Gilbert Armenta, a key figure in the OneCoin case and the boyfriend of the scheme's founder, Ruja Ignatova. Armenta received a five-year prison sentence in 2023 for laundering around $300 million from the scam's proceeds.

Morro's case is part of a broader investigation by U.S. authorities, who have charged multiple individuals associated with OneCoin, including its co-founder Karl Sebastian Greenwood and former head of legal and compliance Irina Dilkinska.

OneCoin, established in 2014 and exposed as a Ponzi scheme in 2015, defrauded investors by promoting a non-existent cryptocurrency. The scheme promised high returns, relying on the recruitment of new participants to fund payouts. Ruja Ignatova, also known as the 'CryptoQueen,' led the scam and disappeared in 2017. She was reportedly found in 2023 after being one of the FBI's most wanted for five years.