‘Cryptoqueen’ partner gets 20 years prison in $4 billion ponzi fraud

Damian Williams, the top federal prosecutor in Manhattan, speaks at a press conference to announce the addition of “Cryptoqueen” Ruja Ignatova to the FBI’s most-wanted fugitives list, in New York, June 30, 2022.

Luc Cohen | Reuters

The co-founder of the fraudulent OneCoin cryptocurrency, a massive pyramid scheme that amassed over $4 billion from millions of investors worldwide, was sentenced Tuesday to 20 years in prison.

Karl Sebastian Greenwood, who orchestrated the multibillion-dollar multi-level marketing con, pleaded guilty in December to wire fraud and money laundering charges.

His partner, Ruja Ignatova, known as the “Cryptoqueen” on the FBI’s Top 10 Most Wanted list, remains at large, the Department of Justice said.

Greenwood “operated one of the largest fraud schemes ever perpetrated,” U.S. Attorney Damian Williams said in a press release.

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Greenwood’s sentence was imposed by federal Judge Edgardo Ramos in U.S. District Court in lower Manhattan

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