OneCoin Co-Founder Karl Greenwood Sentenced to 20 Years in Prison
OneCoin stands as one of the largest fraud schemes in history. Using multilevel marketing and a Ponzi scheme, the fraudsters extracted $4 billion from unsuspecting victims.
On this page
Greenwood has been in custody since 2018 after being extradited from Thailand. In December, he pleaded guilty to fraud and money laundering charges, originally facing a potential 60-year sentence.
Reports suggest he made over $300 million through a 5% commission on all OneCoin sales.
The pyramid scheme's mastermind, Ruja Ignatova, disappeared in October 2017 and is now on the FBI's top 10 most wanted list.
Rumors suggest she might have been murdered on a yacht in 2018. For more details on this story, refer to our article.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
