One of the co-founders of the $4 billion OneCoin crypto pyramid scheme has been sentenced to 20 years in prison.

Karl Sebastian Greenwood co-founded the infamous fraud with Ruja Ignatova, widely known as the “Cryptoqueen.”

Greenwood and Ignatova started OneCoin in 2014 and operated the company as a multi-level marketing (MLM) network. They falsely claimed the project maintained a private blockchain, and the fraud reportedly lured in more than 3.5 million victims.

Greenwood, a citizen of the United Kingdom and Sweden, was also ordered to pay more than $300 million worth of forfeiture, according to a new press release from the U.S. Department of Justice (DOJ).

Ignatova, the leader of the scam, has been a fugitive since 2017 and was placed on the FBI’s Ten Most Wanted list in 2022. A February report from BIRD, a Bulgarian investigative journalism outlet, indicated she may have been murdered at the order of known drug lord Hristoforos ‘Taki’ Amanatidis.

BIRD cited documents found at the home of a former top Bulgarian police officer, Lyubomir Ivanov, after he was murdered last year. However, the report’s information is not authenticated and the details about Ignatova’s death remain the subject of speculation.

The FBI says it will pay out a $100,000 reward for information leading to Ignatova’s arrest.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post ‘Cryptoqueen’ Associate Receives 20 Years in Prison, Ordered To Surrender $300,000,000 appeared first on The Daily Hodl.

One of the co-founders of the $4 billion OneCoin crypto pyramid scheme has been sentenced to 20 years in prison.

Karl Sebastian Greenwood co-founded the infamous fraud with Ruja Ignatova, widely known as the “Cryptoqueen.”

Greenwood and Ignatova started OneCoin in 2014 and operated the company as a multi-level marketing (MLM) network. They falsely claimed the project maintained a private blockchain, and the fraud reportedly lured in more than 3.5 million victims.

Greenwood, a citizen of the United Kingdom and Sweden, was also ordered to pay more than $300 million worth of forfeiture, according to a new press release from the U.S. Department of Justice (DOJ).

Ignatova, the leader of the scam, has been a fugitive since 2017 and was placed on the FBI’s Ten Most Wanted list in 2022. A February report from BIRD, a Bulgarian investigative journalism outlet, indicated she may have been murdered at the order of known drug lord Hristoforos ‘Taki’ Amanatidis.

BIRD cited documents found at the home of a former top Bulgarian police officer, Lyubomir Ivanov, after he was murdered last year. However, the report’s information is not authenticated and the details about Ignatova’s death remain the subject of speculation.

The FBI says it will pay out a $100,000 reward for information leading to Ignatova’s arrest.

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post ‘Cryptoqueen’ Associate Receives 20 Years in Prison, Ordered To Surrender $300,000,000 appeared first on The Daily Hodl.