OneCoin Co-Founder Sentenced to 20 Years in Prison for Defrauding Investors!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 13, 2023 0:18

Karl Sebastian Greenwood, a co-founder of OneCoin, has been sentenced to 20 years in prison and ordered to pay a $300 million fine for defrauding investors with the cryptocurrency. OneCoin was marketed as a digital currency but was in reality a pyramid scheme that tricked investors out of billions of dollars. Greenwood, along with co-founder Ruja Ignatova, convinced people to invest in OneCoin with promises of high returns. Ignatova is still missing, and authorities are searching for her.