OneCoin marketing man in plea conversations

According to court reports on Friday, another suspected player behind OneCoin’s ponzi scheme is now set to face justice.

On Friday, counsel for marketing guru Karl Sebastian Greenwood and U.S. prosecutors told Manhattan Judge Edgardo Ramos that both sides are currently negotiating a plea agreement for Greenwood, which was diagnosed in 2018 for allegations involving participated 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 installing OneCoin and soliciting new investments in the project, which ultimately defrauded billions from investors worldwide.

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

Greenwood is in jail in Manhattan while he awaits his trial or 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 messes in crypto history, and a film based on the events is set to begin production with star Kate Winslett, along with a separate BBC series at the works.

In addition, despite the ongoing litigation, Greenwood should consider itself lucky: Ignatova’s personal lawyer, Mark S. Scott, was disbanded in November following his conviction for money laundering, and two other marketers involved in promoting OneCoin were discovered is dead after a reported kidnapping in July.