United States v. Karl Sebastian Greenwood

Decisions and steps

1. 16 December 2022Guilty plea to wire fraud, wire fraud conspiracy and money laundering conspiracy^S2
2. 12 September 2023Sentenced to 20 years and about US$300 million forfeiture^S1
3. 31 January 2025Second Circuit affirms the 240 month sentence^S7

Claims this case bears on

• Supported96
  A September 2023 US Department of Justice statement said OneCoin co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison and ordered to pay about US$300 million for his part in the OneCoin scheme.
  Regulator statement, 12 September 20233 records citedFraud
• Supported93
  The Department of Justice said OneCoin was sold as a cryptocurrency but lacked a true blockchain, had no real value, and that its price was set by the company itself.
  Regulator statement, 16 December 20223 records citedProduct claims
• Contradicted88
  A January 2018 OneCoin company statement said the company had never been involved in criminal or illegal activities and called money laundering reports untrue and misleading.
  Company statement, 23 January 20183 records citedMoney laundering

Sources

1. S2Tier A Co-founder of multibillion-dollar cryptocurrency pyramid scheme "OneCoin" pleads guiltyUS Attorney's Office, Southern District of New York, via IRS Criminal Investigation. Government press release. 16 December 2022.Supports the guilty plea counts, the no true blockchain and worthless coin findings, and the pyramid scheme description.
2. S1Tier A Co-Founder Of Multibillion-Dollar Cryptocurrency Scheme "OneCoin" Sentenced To 20 Years In PrisonUS Attorney's Office, Southern District of New York. Government press release. 12 September 2023.Supports the 20 year sentence, the forfeiture, the scheme size and that Ignatova remains at large. Does not establish Ignatova's personal guilt.
3. S7Tier A United States v. Scott, United States v. Greenwood, Summary Order, Nos. 23-7199(L), 24-368US Court of Appeals for the Second Circuit. Court judgment. 31 January 2025.Affirms Greenwood's 240 month sentence on appeal. Settles that the sentence is final.