Co-Founder of $4 Billion OneCoin Crypto Scam Gets 20-Year Prison Term

One of the co-founders behind the notorious $4 billion OneCoin cryptocurrency pyramid scheme, Karl Sebastian Greenwood, has been handed a 20-year prison sentence. Together with Ruja Ignatova, famously known as the “Cryptoqueen,” Greenwood initiated the fraudulent operation in 2014, operating it as a multi-level marketing (MLM) network. They deceitfully claimed to maintain a private blockchain, ultimately ensnaring over 3.5 million victims.

Greenwood, a dual citizen of the United Kingdom and Sweden, has also been ordered to forfeit more than $300 million, as per a recent press release from the U.S. Department of Justice (DOJ).

Ignatova, the mastermind behind the scam, has remained a fugitive since 2017 and was placed on the FBI’s Ten Most Wanted list in 2022. Recent information from BIRD, an investigative journalism outlet in Bulgaria, has suggested the possibility of her having been murdered at the behest of a known drug lord, Hristoforos ‘Taki’ Amanatidis.

These claims stem from documents reportedly discovered at the residence of a former high-ranking Bulgarian police officer, Lyubomir Ivanov, who was murdered last year. It’s essential to note that this information has not been authenticated, and the circumstances surrounding Ignatova’s demise continue to be a subject of speculation.

The FBI has announced a $100,000 reward for any information that leads to the apprehension of Ruja Ignatova.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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