Chief promoter of OneCoin pyramid scheme starts plea bargaining

OneCoin’s number two man Carl Sebastian Greenwood and US prosecutors are discussing a plea deal on charges related to his involvement Crypto Engine in a $4 billion Ponzi scheme, the Cointelegraph reports.

The parties have notified Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York.

Greenwood faces five charges, including money laundering, fraud and criminal conspiracy. Earlier in the civil trial, he was described as the „public face of OneCoin“. Greenwood was responsible for promoting the project and attracting new investment. Damages from the scheme are estimated at $4 billion.

According to the indictment, Greenwood „made false statements and misrepresented information, attracting people around the world“. The prosecution estimated that his actions resulted in the pyramid scheme receiving more than $1 billion in investor funds.

Greenwood, a resident of Sweden, was arrested in Thailand in 2018.

The whereabouts of pyramid founder Ruja Ignatova are still unknown. Her brother Konstantin Ignatov was detained at Los Angeles airport in March 2019. He pleaded guilty to several charges and agreed to testify against his sister.