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Armenta, the ex-boyfriend of OneCoin creator Ruja Ignatova, has been sentenced to five years in federal prison for money laundering.
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He was initially facing a possible sentence of seven years in jail but his guilty plea resulted in a reduced punishment.
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Armenta laundered $300 million and used the proceeds to purchase luxurious items including a jet plane.
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He also violated his agreement with authorities by selling the aircraft and stealing a $5 million check.
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He bribed Mexican entities and gambled funds stolen from OneCoin investors.
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Armenta's lawyer claimed that his client's problems stemmed from his relationship with Ignatova.
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Ignatova allegedly drilled into Armenta's apartment and hired people to surveil him.
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Armenta also bought a bank in Georgia where Ignatova was a customer.
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The defendant asked to serve his sentence in FCI Miami Federal Prison.
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The decision on whether to approve his request is still pending.