Onecoin co-founder has to go to prison for 20 years

by time news

2023-09-14 18:47:59

Tricked millions of investors out of their money: Onecoin founder Ruja Ignatova in an interview in 2016. Image: YouTube/OneCoin/Screenshot FAZ

Together with Ruja Ignatova, Karl Sebastian Greenwood laid the foundations for the pyramid scheme surrounding the alleged cryptocurrency “Onecoin”. After a verdict, the American must now be in custody. There is still no trace of the fugitive “crypto queen”.

Since his confession in December 2022, Karl Sebastian Greenwood had been waiting for this day, most recently even hoping for possible leniency from the judge at the district court in New York. But given the global scope of the Onecoin cryptocurrency scandal, damage of at least 4 billion euros ($4.3 billion) and Greenwood’s personal enrichment, Judge Edgardo Ramos had no choice.

He sentenced the Onecoin co-founder, who has been behind bars since his arrest in 2018, to 20 years in an American federal prison. The judge thus stayed well below the possible sentence of up to 60 years for the three charges to which the 46-year-old Greenwood had pleaded guilty.

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