NEW YORK (AP) — A co-founder of the fraudulent cryptocurrency OneCoin, a pyramid scheme that conned billions of dollars from investors worldwide, pleaded guilty to wire fraud and money laundering charges, U.S. prosecutors said Friday.
Touted as a “Bitcoin killer,” prosecutors said the purported cryptocurrency co-founded by Ruja Ignatova and Karl Sebastian Greenwood in 2014 in Bulgaria was actually worthless. Though marketed as a cryptocurrency, it was never mined using computers and there was no public and verifiable blockchain. The value of OneCoin was not set by supply and demand, but by its operators, they said.
Greenwood, 45, was arrested at his island residence in Thailand in 2018 and extradited to the United States. He pleaded guilty Friday in federal court in Manhattan.
Greenwood, a citizen of Sweden and the United Kingdom, has been detained since his arrest.
U.S. Attorney Damian Williams said Greenwood helped operate one of the largest international fraud schemes in history. His office said victims invested more than $4 billion.
“Greenwood’s lies were designed with one goal, to get everyday people all over the world to part with their hard-earned money — real money — and to line his own pockets to the tune of hundreds of millions of dollars,” Williams said in a statement.
Ignatova, nicknamed the Cryptoqueen and described as OneCoin’s top leader, disappeared in October 2017 and remains at large. In June, she was added to the FBI’s Top Ten Most Wanted List and there is a $100,000 reward for information leading to her arrest.
OneCoin’s growth was fueled by multilevel marketing, in which members received commissions for recruiting others to purchase cryptocurrency packages.
Though Ignatova boasted that OneCoin would be “the Bitcoin killer,” she and Greenwood referred to it as “trashy coin” in email correspondence. In one email, Greenwood referred to investors as idiots.
Greenwood pleaded guilty to one count of conspiracy to commit wire fraud, one count of wire fraud and one count of conspiracy to commit money laundering. Each count carries a maximum sentence of 20 years in prison.
He will be sentenced April 5.
(Bloomberg) — Democratic Senator Joe Manchin said he has “no intentions” of switching political parties, but didn’t rule out the possibility in the future.Most Read from BloombergMusk Narrows Voting on Twitter Policy to Blue Members After PollMusk Polls Twitter to Quit as Chief, Voters Leaning Toward YesJustin Bieber Urges Fans Not to Buy His Own ‘Trash’ Merchandise at H&MYen Surges as Kuroda’s Yield Cap Shock Sparks Normalization BetsTwitter Users Vote for Elon Musk to Step Down as CEOManchin,
Federal officials are appealing for information after a Florida woman was found dead in the water. Investigators with the FBI’s Tampa Field Office are looking into a suspicious death after a woman — later identified as 34-year-old Heather Rose Strickland — was “found floating” near the shores of Egmont Key, about 13 miles off the coast of Pinellas County, Florida, according to the FBI. A group of fishermen made the grisly discovery on Dec. 10 and notified the United States Coast Guard shortly be
No one seems to know why.
Barry and Honey Sherman were found hanging by belts from a railing that surrounds their indoor pool on December 15, 2017.
Chicago police are searching for a suspect who shot a teen in an ear and an eye while aboard a CTA Red Line train in the city's Chinatown neighborhood early Sunday.
Nikko Pires shot Joseph Moore, who was a member of the Outlaws Motorcycle Club, outside of Froggy's Saloon in Daytona Beach in January 2020.
The mother and stepfather of a missing 11-year-old girl Madalina Cojocari have been arrested, accused of failing to report her disappearance to authorities.
Two Missouri residents were arrested last week after leading police on a chase followed by one suspect escaping handcuffs, stealing a squad car, and attempting to disarm an officer
A now-fired middle school teacher remains jailed in middle Georgia after investigators said he had sex with a 14-year-old former student.
A young boy was caught by surveillance cameras tossing a beloved community cat off the 22nd floor of a building in Singapore. The 10-year-old denied the allegations until a cat caretaker who lived in the same block, Block 186 Boon Lay Avenue, showed him the security footage. Umi Solikati, a 39-year-old Boon Lay resident, said she found the cat, named Panther, dead at around 2 p.m. on Dec. 14.
The disgraced crypto mogul said he would no longer fight extradition, but was sent back to prison amid courtroom confusion.
A reported repeat offender was allegedly caught trying to use actor Robert De Niro’s iPad and "stealing Christmas presents" after breaking into his Upper East Side home.
A man remains jailed in Georgia after police say he kidnapped a woman from South Carolina and held her captive for months in a motel while he raped her, beat her and forced her to perform work.
The Troy Police Department is reaching out to the public for help identifying a suspect in a theft incident from Sunday.
Lamor Whitehead, who made headlines when gunmen stole $1 million in jewelry from him, is accused of ripping off parishioners and lying to the FBI.
A Westmoreland County man who pleaded guilty to trafficking minors, statutory sexual assault, promoting prostitution of minors and conspiracy was sentenced last week.
Walmart has been battered by theft and crime incidents this year, as many businesses across the country have, ahead of the company going into the busy holiday shopping season.
Four burglars are wanted after they used a sledgehammer to break into a Memphis liquor and stole alcohol, police said.
Two Florida women will face years behind bars after attempting to sell illegal drugs in South Florida, according to authorities. They were arrested on drug charges Friday.
A man is wanted for a deadly double shooting, that killed two teenagers.


Write A Comment