20-Year Prison Sentence and $300 Million Forfeiture for ‘Cryptoqueen’ Accomplice

20-Year Prison Sentence and $300 Million Forfeiture for ‘Cryptoqueen’ Accomplice

Co- Founder of OneCoin Cryptocurrency Scam Receives 20-Year Prison Sentence

Karl Sebastian Greenwood, one of the co-founders of the notorious OneCoin cryptocurrency pyramid scheme, has been sentenced to 20 years in prison. Greenwood, along with Ruja Ignatova, likewise 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

Along with his prison sentence, Greenwood, a citizen of the United Kingdom and Sweden, has been ordered to pay over $300 Million in forfeiture. In the meantime, Ignatova, the mastermind behind the scam, has been a fugitive since 2017 and was placed on the FBI’s 10 Most Wanted list in 2022.

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Possible Murder of Ignatova

A Bulgarian investigative journalism outlet was known BIRD released a report suggesting that Ignatova may have been murdered on the orders of drug lord Hristoforos ‘Taki’ Amanatidis. Nonetheless, 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.

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Hot Take: ‘Cryptoqueen’ Associate Sentenced for Substantial Fraud

Karl Sebastian Greenwood, co- founder of the infamous OneCoin cryptocurrency pyramid scheme, has received a 20-year prison sentence for his engagement in the fraudulent operation. Alongside Ruja Ignatova, known as the “Cryptoqueen,” Greenwood deceived millions of victims by falsely promoting a private blockchain. This case outlines the importance of vigilance in the cryptocurrency space and the severe consequences that await those who engage in fraudulent activities. Although 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.

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Disclosure: The over post is for informational objectives only and does not constitute financial or investment advice.

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