Bogus ‘Bitcoin killer’ cryptocurrency founder pleads guilty

Published December 16, 2022 1:06 PM

NEW YORK (AP) — U.S. prosecutors say the co-founder of the fraudulent cryptocurrency OneCoin has pleaded guilty to wire fraud and money laundering charges. Prosecutors say OneCoin was actually a pyramid scheme that conned billions of dollars from investors worldwide. Karl Sebastian Greenwood was arrested at his island residence in Thailand in 2018 and extradited to the United States. He pleaded guilty Friday in federal court in Manhattan. OneCoin’s other co-founder disappeared in October 2017 and remains at large.

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