Co-Founder of Infamous Ponzi Scheme OneCoin Gets 20 Years Jail Sentence (Report)

Karl Sebastian Greenwood, co-founder of OneCoin and wingman for Ruja Ignatova, also referred to as “Cryptoqueen,” was sentenced to twenty years imprisonment for his involvement in one of many greatest crypto rip-off initiatives.

Ignatova, who was included within the Federal Bureau of Investigations (FBI) Ten Most Wished Fugitives listing, is rumored to have been murdered in 2018.

20 Years in Jail for Cryptoqueen’s Wingman

Based on Bloomberg, Swedish citizen Karl Sebastian Greenwood was sentenced on Tuesday, Sept. 11, in New York. Greenwood was the primary promoter of the OneCoin venture, with prosecutors alleging that he made $300 million from the Ponzi scheme, utilizing a part of the cash to spend on luxuries akin to designer garments and a down fee on a Sunseeker yacht.

Greenwood bought properties in Thailand, Spain, and Dubai and in addition went on a luxurious journey utilizing a personal OneCoin jet. Nonetheless, the co-founder was arrested in Thailand in 2018 and subsequently extradited to america and confronted as much as 60 years in jail for his illicit actions.

The manager later begged for leniency from the courtroom, admitting that he knowingly promoted OneCoin, which was used to defraud unsuspecting victims. Greenwood additionally claimed that he suffered extraordinarily harsh circumstances whereas being detained in Thailand and the US and pleaded responsible to his crimes in December 2022.

Bulgaria-based OneCoin venture based by Ruja Ignatova, alias “Cryptoqueen,” stole over $4 billion from traders throughout the globe. Ignatova and her workforce promoted OneCoin as a ‘Bitcoin Killer’ whereas efficiently luring individuals to put money into their cryptocurrency.

Other than Greenwood, one other OneCoin govt, Irina Dilkinska, who served as the top of authorized and compliance, is going through prices in america and could get a maximum of 40 years in prison for wire fraud and alleged violation of cash laundering legal guidelines.

Ignatova’s ex-boyfriend Gilbert Armenta received a five-year prison sentence in February 2023 for selling OneCoin. Armenta laundered $300 million from the proceeds of the OneCoin rip-off, reportedly shopping for a jet aircraft and different luxurious gadgets.

Cryptoqueen: Lifeless or Alive?

Whereas OneCoin executives are serving jail phrases for his or her crimes, the Cryptoqueen continues to stay at giant. Earlier reviews acknowledged that the OneCoin creator was final seen in Athens, Greece, in 2017, with speculations that the fugitive is hiding in a yacht within the Mediterranean Sea.

In the meantime, Bulgarian sources acknowledged that Ignatova might have been brutally killed in 2018, on the directive of an area drug lord. In June 2022, the OneCoin creator entered the FBI’s “Ten Most Wished Fugitives” listing, with authorities providing a $100,000 bounty for data resulting in her arrest.