Karl Greenwood, co-founder of the OneCoin cryptocurrency scam, has been sentenced to 20 years in prison and ordered to repay $300 million. This scam, associated with the notorious “Cryptoqueen” Ruja Ignatova, defrauded millions of victims worldwide, resulting in a total loss of $4 billion.
The 46-year old Greenwood, a citizen of the UK and Sweden, co-founded OneCoin with Ignatova in 2014. He was arrested in Thailand in 2018 and faced charges of fraud and money laundering, leading to his extradition to the US. Ignatova is a fugitive since 2017 and faces similar charges. She was added to the FBI’s Top 10 Most Wanted List in June 2022.
As a global pyramid scam that aimed to capitalize on Bitcoin’s success, OneCoin, according to officials, used the popularity of Bitcoin to convince investors that OneCoin was “the next ‘can’t miss’ investment opportunity.”
Greenwood, OneCoin Right-Hand Man
Greenwood was the primary organizer of a Ponzi scheme involving over 3.5 million peo
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