Co-Founder of OneCoin Crypto Scam Receives 20-Year Prison Sentence
Karl Sebastian Greenwood, one of the co-founders of the notorious OneCoin crypto pyramid scheme, has been sentenced to 20 years in prison. Greenwood, along with Ruja Ignatova, also known as the “Cryptoqueen,” started OneCoin in 2014 and operated it as a multi-level marketing network. They falsely claimed to have a private blockchain and managed to deceive over 3.5 million victims.
Forfeiture and Fugitive Status
In addition to his prison sentence, Greenwood, a citizen of the United Kingdom and Sweden, has been ordered to pay over $300 million in forfeiture. Meanwhile, Ignatova, the mastermind behind the scam, has been a fugitive since 2017 and was placed on the FBI’s Ten Most Wanted list in 2022.
Possible Murder of Ignatova
A Bulgarian investigative journalism outlet called BIRD released a report suggesting that Ignatova may have been murdered on the orders of drug lord Hristoforos ‘Taki’ Amanatidis. However, the information in the report is unverified, and the details surrounding Ignatova’s alleged death remain speculative.
Reward for Information
The FBI is offering a $100,000 reward for any information that leads to Ignatova’s arrest.
Hot Take: ‘Cryptoqueen’ Associate Sentenced for Massive Fraud
Karl Sebastian Greenwood, co-founder of the infamous OneCoin crypto pyramid scheme, has received a 20-year prison sentence for his involvement in the fraudulent operation. Alongside Ruja Ignatova, known as the “Cryptoqueen,” Greenwood deceived millions of victims by falsely promoting a private blockchain. This case highlights the importance of vigilance in the crypto space and the severe consequences that await those who engage in fraudulent activities. While Ignatova remains at large, the FBI is determined to bring her to justice and is offering a substantial reward for any information leading to her arrest. This landmark sentencing serves as a warning to others involved in similar scams, emphasizing that justice will be served.
Disclaimer: The above article is for informational purposes only and does not constitute financial or investment advice.
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