TechFlow reports that the U.S. Attorney's Office for the Southern District of New York has announced that OneCoin co-founder Karl Sebastian Greenwood has been sentenced to 20 years in prison for his actions. The 46-year-old Greenwood, a dual citizen of Sweden and the United Kingdom, was also ordered to pay approximately $300 million in forfeiture.
OneCoin began operating in 2014, using global multi-level marketing (MLM) networks to market and sell its fraudulent cryptocurrency worldwide. Millions of victims globally invested over $4 billion in the scam. Another co-founder, Ruja Ignatova, was added to the FBI's Ten Most Wanted Fugitives list in June 2022 and remains at large.
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