OneCoin Founder Sentenced to 20 Years for $4 Billion Cryptocurrency Pyramid Scheme

Karl Greenwood, a founder of OneCoin, sentenced to 20 years in prison for his role in the pyramid scheme.
OneCoin launched in 2014 as a cryptocurrency but did not actually exist on blockchain.
Defrauded over $4 billion from at least 3.5 million victims.
Greenwood was global master distributor, earned 5% of monthly sales.
Co-founder Ruja Ignatova, known as "CryptoQueen," remains at large and is on FBI Most Wanted list.

coindesk.com

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Posted 9/13/2023, 10:05:00 AM