One Coin co-founder sentenced to 20 years and fined $300 million
One Coin co-founder sentenced to 20 years and fined $300 million
OneCoin founder Karl Sebastian Greenwood was sentenced to 20 years in prison after prosecutors accused him of cheating 3.5 million people who invested in OneCoin and using the money for five-star resorts, a private plane and a yacht.
Greenwood, 46, was sentenced on Tuesday and was ordered to pay $300 million, the U.S. Attorney’s Office for the Southern District of New York said in a statement. Greenwood had previously pleaded guilty to wire fraud and money laundering.
Greenwood co-founded OneCoin in 2014 with the so-called Crypto Queen-turned-fugitive Ruja Ignatova. Greenwood was arrested in Thailand in 2018, charged with fraud and money laundering and extradited to the U.S. Ignatova faces similar charges, but has not been seen since 2017 when she took a flight to Greece. She was added to the FBI’s Top Ten Most Wanted List in June 2022, the attorney’s office said.
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