Karl Greenwood, co-founder of OneCoin with Ruja Ignatova, was sentenced in the United States to 20 years in prison and ordered to pay $300 million on Sept. 20. Ignatova remains at large.
Greenwood, who is a citizen of the United Kingdom and Sweden, was sentenced in the U.S. District Court for the Southern District of New York. In a statement by the Justice Department, U.S. Attorney Damian Williams called OneCoin “one of the largest fraud schemes ever perpetrated.” The multilevel marketing and Ponzi scheme reaped $4 billion from 3.5 million victims, the statement said, adding: