Damian Williams, the United States Attorney for the Southern District of New York, announced today that KARL SEBASTIAN GREENWOOD, who co-founded OneCoin with RUJA IGNATOVA, a/k/a “the Cryptoqueen,” was sentenced to 20 years in prison for his orchestration of the massive OneCoin fraud scheme.
OneCoin, which began operations in 2014 and was based in Sofia, Bulgaria, marketed and sold a fraudulent cryptocurrency by the same name through a global multi-level-marketing (“MLM”) network.
As a result of misrepresentations that GREENWOOD, IGNATOVA, and others made about OneCoin, millions of victims invested over $4 billion worldwide in the fraudulent cryptocurrency.
Today’s sentence was imposed by U.S. District Judge Edgardo Ramos. IGNATOVA, who was added to the Federal Bureau of Investigation’s (“FBI”) Top Ten Most Wanted List in June 2022, remains at large.
U.S. Attorney Damian Williams said:
“As a founder and leader of OneCoin, Karl Sebastian Greenwood operated one of the largest fraud schemes ever perpetrated. Greenwood and his co-conspirators, including fugitive Ruja Ignatova, conned unsuspecting victims out of billions of dollars with promises of a ‘financial revolution’ and claims that OneCoin would be the ‘Bitcoin killer.’
In fact, OneCoins were entirely worthless, and investors were left with nothing, while Greenwood lined his own pockets with over $300 million.
Tag Archive for OneCoin
Hot Business News Today
Chinese Authorities Arrest 119 OneCoin Leaders, $7.1 Million Seized From Sebastian Greenwood, $2.4 Billion Involved
by Ted Nuyten • • 0 Comments
According to leading chinese website Sixthtone.com:
“Police in central China’s Hunan province recently cracked a digital currency pyramid scheme crime involving 15 billion yuan ($2.4 billion) and arrested 119 suspects, a local television station reported Monday.
Founded by a Bulgarian woman, Ruja Ignatova, OneCoin entered China in September 2014. Though it is promoted as a cryptocurrency, it operates a private blockchain, unlike popular rivals like bitcoin, which uses a transparent public ledger.
In December of last year, the Zhuzhou Intermediate People’s Court in Hunan ruled that OneCoin was an illegal pyramid scheme — a multilevel marketing business that raises profits primarily by recruiting new investors. The verdict also revealed that the organization had charged membership fees of 1,000 to 280,000 yuan. Law enforcement confiscated more than 1.6 billion yuan from the criminal network.
The phenomenal growth of cryptocurrencies over the past few years has attracted millions of investors while also creating opportunities for criminals to take advantage of hype around the technology.
Zhuzhou police were tipped off about OneCoin as early as March 2016, and in December the same year, state broadcaster China Central Television warned the public that OneCoin was one of more than 60 virtual currencies that exploited the concepts of blockchain technology
Hot Business News Today
OneCoin $8 Billion In Combined Sales And Still In Business
by Ted Nuyten • • 0 Comments
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any opportunity.
In January 2018 the Bulgaria’s Special Prosecutor’s Office raided the head office of OneCoin and OneLife in Bulgaria and seized several computers. The company has done an estimated $8 Billion in revenue since the start.
According to the brother of Ruja Ignatova founder and CEO, Konstantin Ignatov who is now in charge of the daily operations, all equipment seized is giving back and no arrests were made. Both websites www.onecoin.eu and www.onelife.eu are operational.
Ruja Ignatova is well, however got death threats and therefore will not be seen in public.
The next communication OneCoin send to their members, most likely with the involvement of consultant Frank Ricketts:
“OneLife Office Raided and Computers Seized”
Those two words, “raided” and “seized,” they sure cause some goose bumps to occur and make you wonder what is going on and it is not on the positive side of life. Of course these words were used by websites like CoinDesk and CoinTelegraph, which are both biased websites and cannot be trusted as truthful since people pay them to post articles on their websites.
The haters continue to
Hot Business News Today
OneCoin Official Statement Regarding Publications About Exposed Criminal Group Related To OneCoin cryptocurrency
by Ted Nuyten • • 0 Comments
January 22, 2018
The OneCoin company would like to officially state that the multiple recent media announcements about an exposed criminal group, engaged in money laundering using the OneCoin cryptocurrency, are untrue and are misleading the public.
The OneCoin company believes that all the above media allegations are the result of a well organized, purposeful campaign, aiming to damage our corporate reputation and destroy our business.
Let it be clear to the public that the company has never been involved in criminal or illegal activities in any country or territory of operations, including in the Republic of Bulgaria. The company and its partners have always openly declared their willingness to cooperate with regulators, governmental organizations and media, and provide any information that would be useful in clarifying any confusion or suspicion, related to their business activities.
Therefore, we have been extremely surprised that we were never approached and asked for clarification, including by any media outlet worldwide, as expected by media striving for journalistic professionalism, fairness and objectivity. A point that we could all agree on is that media is essential to and should be the pillar of a healthy democracy.
The fact that during the past couple of days we are witnessing completely the
Hot Business News Today
Bulgarian Prosecutors Join In Anti-Money Laundering Operation Against OneCoin
by Ted Nuyten • • 0 Comments
According to an article in the Sofia Globe, a Bulgarian newspaper:
Bulgaria’s Special Prosecutor’s Office said on January 19 that it was involved in an international operation to neutralise a large-scale pyramid structure involving commercial fraud, multi-level marketing and money laundering through the creation and distribution of OneCoin.
OneCoin, which has an office in Sofia, describes itself as a virtual currency. In September 2016, it was the subject of a warning by the UK Financial Conduct Authority.
A statement by the Prosecutor’s Office said that prosecutors and investigators from the Special Prosecutor’s investigation unit, as well as officers from Bulgaria’s directorate against organised crime and the State Agency for National Security, were involved in the international investigation.
This was on the basis of an international legal assistance order from the Prosecutor’s Office in the German city of Bielefeld (North Rhine-Westphalia) which had arrived in October 2017.
Representatives of Eurojust and Europol are actively involved in the execution of the court order, the Prosecutor’s Office said.
Bielefeld prosecutors had asked the Bulgarian authorities to carry out specific procedural and investigative actions on the territory of Bulgaria vis-à-vis the Bulgarian company “One Network Services” EOOD and its affiliates, including two Bulgarian women with German citizenship.
Investigators had identified the
Hot Business News Today
OneCoin Out Of Control – Ruja Ignatova Disappeared
by Ted Nuyten • • 0 Comments
Friends, intimi, top distributors as corporate employees have not seen or heard about OneCoin – OneLife founder Dr.Ruja Ignatova since October 9 of last year.
Ruja Ignatova is the heart and soul of OneCoin – OneLife and has total control of the corporate operations.
As a direct result of the disappearance, the majority of active Top Leaders have recently left, disappointed, the company, pursuing other opportunities, as a ship without captain is unacceptable in Network Marketing.
As a result of the collapse of the network marketing arm of Onecoin – the Onelife network – we have decide to remove the top earners from the Business For Home ranks.
About Ruja Ignatova
Born in Sofia, Bulgaria, Rja Ignatova grew up in Bulgaria until age 10, when she moved to Germany. For a young, hard-working female foreigner, the transition was not easy, and Dr. Ignatova had to learn a new language and begin proving herself.
She lived Germany as both a student and then as a businesswoman and developed her entrepreneurial spirit there. She received a Ph.D. in Law from the University of Konstanz, a degree in Law from the University of Oxford (M.Jur) and a Master’s Degree in Law from the University of Konstanz and Economics from the University
Hot Business News Today
Interview With Igor E. Alberts And Andreea Cimbala – OneLife Millionaires
by Ted Nuyten • • 0 Comments
Backed by a large and dynamic team of 300,000 distributors, this couple from the Netherlands has become, probably, the most powerful union in the industry at the moment with earnings up to $2.4 million per month.
Together or separately, they are leaders who have gained the admiration of many people for two simple things: one is their tireless work and never-ending energy, the other is one of the most successful training systems so far, evident both in the leadership development in their team, as well as their high level of duplication.
Igor and Andreea are the founders of the SUCCESS4ALL team, which, as its name implies, has been creating success stories on almost every continent of the planet.
And the couple seems to have travelled to almost every corner of the planet, for one reason or another, during this year. I asked them if they remembered all the places they have visited during 2017.
“We spent last Christmas at home, and the first events of the year were in Amsterdam, but shortly after we started travelling non-stop until now,” says Andreea.
It was just at the end of December last year when Igor and Andreea boasted the first big turnover that placed them among the first
Hot Business News Today
Ivan and Michelle Mark From Trinidad And Tobago Achieve Diamond Rank At OneLife
by Ted Nuyten • • 0 Comments
This couple resides in the Caribbean – Trinidad and Tobago. They are part of the OneLife’s extensive and successful Success4All team and also represent the momentum both of the opportunity and the team in the Caribbean.
Although these two leaders have a short experience in the network marketing business, both come from the world of finance and have connected immediately with the vision of the company.
The success story of Ivan and Michelle Mark doesn’t begin the day they decided to join the network marketing industry, but the day when destiny led them to meet each other. Special thanks to Michelle’s aunt, who knew that together, these two people would make up a perfect team, so she arranged a meeting where any doubt would be dispelled.
Curiously enough, that day when the Ivan and Michelle found each other by coincidence was when Jamaat al Muslimeen attempted a coup d’etat. If there exists any kind of luck or destiny, we can say that the couple were particularly lucky as the place where Ivan worked at that time was partially destroyed by a bomb.It is a story that they will surely tell their children and grandchildren: how chance or destiny saved their lives, brought them together and
Hot Business News Today
Wais Asadi From The UK Achieves Black Diamond Rank At OneLife
by Ted Nuyten • • 0 Comments
Over the last months, the United Kingdom has become the scenario of spectacular growth, which we also commented in a recent article on the leaders Dr. Parwiz Daud and Mansour Tawafi.
Wais Asadi, the featured leader today, joins that outstanding selection. He is also a member of the international team SUCCESS4ALL, founded and led by Igor E. Alberts and Andreea Cimbala, who are currently ranked number 1 in the Top Earners list.
Wais Asadi, who achieved the rank of Blue Diamond just a few months ago, has recently been recognized as a Black Diamond, one of the most prestigious qualifications within the company. An achievement that was possible thanks to his very clear vision, a mindset aimed at bringing out the best in his team and a humble, rational and hard-working personality.
It is probably also worth highlighting that Asadi has seen the darkest side of life and decided to transform that experience into hope.
I was born and spent part of my life in Afghanistan, a war-torn country which has been in conflict for half a century.
I have seen and experienced poverty and deprivation, first hand.
I know how tough life can be for those who weren’t able to catch a lucky break like
Hot Business News Today
OneLife Bangkok Convention Attracts 10,000 Participants
by Ted Nuyten • • 0 Comments
At the end of November and during the first days of December in Malaysia and Thailand, more than 10,000 people coming from all over the world gathered for a spectacular series of related events.
Thousands of people attended this annual event, held this time at the Siam Niramit Theater. The staging was taken care of in detail to ensure a unique experience to all those who had arrived from different countries in Asia and the rest of the world to participate.
With Natchaphan Sonsirinum, Staffan Liback and Simon Le as main conductors of the event, and with speakers such as Chris Principe, Konstantin Ignatov, the brother of Dr. Ruja Ignatova, Sebastian Greenwood, Frank Ricketts, and the current numbers 1 in the Top earner ranking, Igor E. Alberts and Andreea Cimbala.
That stunning week kicked off with the celebration of the One event. A global event, especially designed this year to highlight the unity of a community that extends to almost every country in the world.
The main theme of the One event was precisely that: the diversity of a global community that, even so, felt as united as one, as only ONE.
Fernando Rys, from the Hong Kong office, was the master of ceremonies, paying