OneCoin co-founder and Cryptoqueen affiliate pleaded responsible to operating a Ponzi scheme. Thousands and thousands of individuals have been tricked into shopping for fraudulent cryptocurrencies, inflicting billions of {dollars} to go lacking.
U.S. Legal professional Damien Williams has confirmed that Carl Sebastian Greenwood pleaded responsible to circuit cash laundering and fraud fees in Manhattan federal court docket on Dec. 16.
“This responsible plea by the co-founder of OneCoin caps off his week at SDNY and sends a transparent message that we are going to pursue all those that search to abuse the cryptocurrency ecosystem via fraud.”
Damien Williams, Chief Federal Prosecutor in Manhattan
Onecoin mechanism
Based mostly in Bulgaria, OneCoin was launched in 2014. The group operated an MLM community the place members earned commissions for recruiting people and buying packages.
The OneCoin participant community has grown quickly. Over 3 million folks bought faux digital asset packs. In keeping with OneCoin paperwork, the group made a turnover of €4.037 billion and a revenue of €2.735 billion between 2014 and 2016.
Ignatova was the CEO of OneCoin till she disappeared in October 2017. Greenwood was OneCoin’s World Grasp Distributor and head of the MLM community, the place illicit cryptocurrencies had been promoted. In a video revealed on-line, the idea of him selling and promoting OneCoin via an MLM community construction was attributed to Greenwood by Ignatova. Greenwood is alleged to have earned round €20 million monthly from this place.
In an electronic mail change with Greenwood on August 9, 2014, Ignatova mentioned her ideas on OneCoin’s “exit technique.”
“Take the cash, run away, and blame this on another person.”
Ruja Ignatova, Founding father of OneCoin
Moreover, in a September 11, 2016 dialog with Konstantin Ignatova, Greenwood referred to OneCoin traders as idiots, and Ignatova mentioned, “As you informed me, networks do not work with clever folks. I might.” he replied.
