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Frank Schneider has been freed to home detention in what appears to be a predicted court error.

Schneider will be monitored around the clock and kept at home until a decision on extradition to the United States is made on January 19th.

The judge did not set bond for unclear reasons, which means Schneider has nothing to lose if he flees.

Schneider (right) was detained in France in April on an international arrest warrant.

Schneider faces up to forty years in jail if extradited to the United States and convicted on OneCoin-related fraud charges.

Schneider will be kept at his home in Joudreville after his release. Joudreville is around 30 kilometers from the French-Luxembourg border.

Schneider’s attorney, according to the Reporter (paywall), was “very happy” with the decision to free him.

Schneider is thought to have had an important role in OneCoin’s activities. Schneider has political ties as a former spymaster for Luxembourg.

He is thought to have first learnt about the US inquiry against OneCoin creator Ruja Ignatova through those relationships.

Schneider is suspected of leaking the probe to Ignatova, who went missing in late 2017.

While Luxembourg has extradition arrangements with both France and the United States, it is expected Schneider’s political connections will make extradition from Luxembourg difficult.

Frank Schneider’s appeal was refused on January 19, 2022.

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