One of the co-founders of the $4 billion crypto pyramid scheme OneCoin has been sentenced to 20 years in prison.
Karl Sebastian Greenwood co-founded the infamous fraud along with Ruja Ignatova, commonly known as the ‘Cryptoqueen’.
Greenwood and Ignatova started OneCoin in 2014 and operated the company as a multi-level marketing (MLM) network. They falsely claimed that the project maintained a private blockchain, and the fraud reportedly lured more than 3.5 million victims.
Greenwood, a citizen of the United Kingdom and Sweden, was also ordered to pay more than $300 million in forfeiture, according to a new press release from the U.S. Department of Justice (DOJ).
Ignatova, the ringleader of the scam, has been on the run since 2017 and was placed on the FBI’s Ten Most Wanted list in 2022. A February report from BIRD, a Bulgarian investigative journalism publisher, indicated that she may have been killed on the orders of known agents. drug lord Hristoforos ‘Taki’ Amanatidis.
BIRD cited documents found in the home of a former top Bulgarian police officer, Lyubomir Ivanov, after he was murdered last year. However, the information in the report is not authentic and the details of Ignatova’s death remain subject to speculation.
The FBI says it will pay a $100,000 reward for information leading to Ignatova’s arrest.
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