OneCoin Co-Founder Karl Sebastian Greenwood Pleads Guilty For Fraud

Karl Greenwood, co-founder of OneCoin, pleads guilty on 16 December for the “Ponzi Scheme” and fraud run by the company defrauding more than $4 billion.

“As a founder and leader of OneCoin, Karl Sebastian Greenwood operated one of the largest international fraud schemes ever perpetrated,” US Attorney General said in his statement.“Greenwood and his co-conspirators, including fugitive Ruja Ignatova, conned unsuspecting victims out of billions of dollars, claiming that OneCoin would be the ‘Bitcoin killer.’ In fact, OneCoins were entirely worthless.”

OneCoin, founded in 2014, marketed as a mineable cryptocurrency through a global-level marketing. This “pyramid-scheme” gave their marketeers commisions on recruiting others in “cryptocurrency” that didn’t exist. Surprisingly, OneCoin was not a blockchain like Bitcoin, Ethernum, etc.

“GREENWOOD, 45, a citizen of Sweden and the United Kingdom, pled guilty to one count of conspiracy to commit wire fraud, which carries a maximum potential sentence of 20 years in prison, one count of wire fraud, which carries a maximum potential sentence of 20 years in prison, and one count of conspiracy to commit money laundering, which carries a maximum potential sentence of 20 years in prison.”, According to US Attorney General source.

While Greenwood is pleading guilty, Ruja Ignatova is missing, and is on grounds of arrest. The FBI is offering a $100,000 reward for information leading to IGNATOVA’s arrest.