The OneCoin saga continues. The latest development that came under the light of the media is that the co-founder of the scam, Karl Greenwood, has pleaded guilty to wire fraud and money laundering charges in front of a New York federal court. He is facing a maximum of 20 years in prison. The Department of Justice will officially sentence Greenwood on April 5th 2023.
Greenwood and Ruja Ignatova are the masterminds of OneCoin, the biggest crypto fraud in history, that swindled countless users though a sophisticated multi-level marketing (MLM) scheme. Over four billion dollars in investment money was collected over the course of the scam’s lifespan.
Over three million people invested in OneCoin, generating a total of €4.037 billion in sales revenue and over €2.735 billion in profits between the period spanning from Q4 2014 and Q4 2016.
Karl Greenwood was arrested in Thailand all the way back in mid 2018, and was consequently extradited to the US.
The main culprit, and the real mastermind behind the scheme, Ruja Ingatova is currently on Europol’ most wanted list. She is also on the FBI’s list of Most Wanted as of June. To demonstrate the seriousness of the situation, the FBI has offered $100 000 to anyone who can present credible information to her whereabouts.
On October 2017 Ignatova, the “Cryptoqueen”, landed in Athens form her home country of Bulgaria, and has not been seen ever since.
