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$4B OneCoin Scam Co-founder Faces 60 Years In Jail

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Karl Sebastian Greenwood, the co-founder of OneCoin's multi-billion-dollar fraudulent cryptocurrency scheme OneCoin,

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has pleaded guilty to multiple U.S. Department of Justice (DOJ) and could face a maximum of 60-year imprisonment.

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On Dec. 16, the DOJ announced that Greenwood had entered a guilty plea before a Manhattan federal judge to wire fraud conspiracy,

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money laundering conspiracy, and wire fraud conspiracy. Each charge carries a maximum sentence of 20 years imprisonment.

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U.S. Attorney Damian Williams claimed that Greenwood ran "one of the most extensive international fraud schemes ever perpetrated."

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He also claimed OneCoin was a "Bitcoin Killer" while the tokens were "entirely valueless."

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OneCoin was a Bulgarian firm founded by Greenwood and "Cryptoqueen" Ruja Ignatova. It marketed a cryptocurrency with the same name. 

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Emails between the DOJ and the founders of OneCoin in 2014 reveal that they called it a "trashy currency."

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