A superseding indictment filed February 6th details four instances of fraud against David R. Pike, linking him to the OneCoin cryptocurrency scheme. Pike was arrested in August 2018, but the Department of Justice delayed filing charges while considering additional counts. This latest filing supersedes any previous indictment.

Pike allegedly engaged in bank fraud between 2016 and 2018 while participating in OneCoin. The indictment states Pike "would and did execute a scheme and artifice to defraud a financial institution" and obtain money and assets through false pretenses. He worked with Mark Scott, another figure in the OneCoin money laundering operation, and an unnamed third co-conspirator.

Court documents show that in June 2016, an unnamed co-conspirator misled an FDIC-insured Manhattan bank. This deception prompted the bank to transfer approximately $5 million into investment funds managed by Pike and associates. One potential associate mentioned in related proceedings is Gilbert Armenta, who reportedly acted as an FBI informant.

Evidence suggests a deliberate effort to mislead financial institutions. An email from Pike to Mark Scott on August 9, 2016, reveals concern about actions that might "disrupt the delicate process of attempting to scrub Ruja (Ignatova)". Pike complimented Scott's handling of the situation, calling it a "very delicate game". This contrasts with Scott's defense in his own trial, where he claimed ignorance of OneCoin's fraudulent nature and denied deceiving banks.

Pike also made false statements to federal agents on December 4, 2018. He denied knowing that roughly $400 million transferred into private equity funds he helped manage originated from OneCoin or belonged to its leader, Ruja Ignatova. The indictment asserts that Pike was, in fact, aware of the money's source and owner.

The superseding indictment charges Pike with one count of conspiracy to commit bank fraud. The DOJ is also seeking forfeiture of any illicit gains, with provisions to substitute assets if the original funds have been laundered. Pike has agreed to proceed by information rather than indictment, waiving his right to a grand jury hearing on February 6th.