OneCoin marketing guru in plea talks

According to court reports from Friday, yet another suspected player behind the OneCoin ponzi scheme is now set to face justice. 

On Friday, counsel for marketing guru Karl Sebastian Greenwood and US prosecutors informed Manhattan Judge Edgardo Ramos that the two sides are currently discussing a plea deal for Greenwood, who was indicted in 2018 for charges relating to his involvement in the OneCoin Ponzi scheme.

Greenwood — who is currently facing five charges including money laundering, fraud, and conspiracy — was described in previous civil litigation as the “public face of OneCoin.” Greenwood was responsible for pitching OneCoin and soliciting new investments in the project, which eventually defrauded billions from investors worldwide.

The indictment alleges that Greenwood “made false statements and misrepresentations soliciting individuals throughout the world […] resulting in the receipt of over $1 billion of investor funds”. The marketer operated out of Sweden during his time with OneCoin, and was arrested in Thailand in 2018.

Greenwood is in jail in Manhattan as he awaits his trial or a possible deal. The mastermind behind OneCoin, Ruja “Cryptoqueen” Ignatova, remains at large.

The OneCoin case and its aftermath has proven to be one of the messiest in crypto’s history, and a movie based on the events is set to enter production with star Kate Winslett, along with a separate BBC series in the works.

Additionally, despite the ongoing litigation Greenwood should consider himself lucky: Ignatova’s personal lawyer Mark S. Scott was disbarred in November following his conviction for money laundering, and two other marketers involved with promoting OneCoin were found dead after a reported kidnapping in July.