Karl Sebastian Greenwood said Onecoin is a notorious cryptocurrency He pleaded guilty to involvement in building the pyramids. A “global master distributor” of fake cryptocurrencies has been in custody since being arrested in Thailand in 2018 and extradited to the United States.
Onecoin co-founder Karl Sebastian Greenwood admits his Cryptoqueen partner at Onecoin was involved in a multi-million dollar scam, Friday. in Manhattan federal court, pleaded guilty to charges of wire fraud and money laundering. As a result of his false reporting, Ponzi scheme mastermind Ruja Ignatova aka “Crypto Queen” and victims around the world, including the United States, invested billions of dollars in fraudulent platforms.
Onecoin co-founders Ruja Ignatova and Karl Sebastian Greenwood. In a
announcement, U.S. Attorney for the Southern District of New York Damian Williams alleges that Greenwood, Ignatova and their co-conspirators operated Onecoin. , purported to be a cryptocurrency that had no real value, was never mined or based on a blockchain, and its price was set manually rather than being determined by the market.
Greenwood, a Swedish and British citizen, and Ignatova, a German citizen born in Bulgaria, founded Onecoin in 2014. Onecoin operated as a global multi-level marketing (MLM) network, whose members were paid. Fees for recruiting others. By the end of 2016, more than 3 million people had invested more than $4 billion in him, according to Onecoin promotional materials and records.
Greenwood’s sentencing is scheduled for April next year.
Ignatova has disappeared from the public eye. , Europol, and the U.S. Federal Bureau of Investigation (FBI) offering a $100,000 reward for information leading to her arrest. , pleaded guilty and sought witness protection.
In August, Christopher Hamilton, an Englishman accused of laundering his money in connection with the Onecoin scam, was handed over to US authorities after losing a bid to avoid extradition to the US. It became clear from media reports that In October, three of her Onecoin employees appeared in a German court and were charged with fraud and other crimes.
His Greenwood, who was Onecoin’s “Global Master Distributor,” was acknowledged by Ignatova for the idea of marketing and selling cryptocurrencies through an MLM structure. His district court judge, Edgardo Ramos, accepted his guilty plea and sentencing him is scheduled for April 5, 2023. The 45-year-old Onecoin co-founder faces up to 20 years in prison for each count of charges against him.
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