Jailed Onecoin Mastermind Accused of Using Contraband Mobile Phone to Move $20 Million – Regulation Bitcoin News

Karl Sebastian Greenwood, one of many masterminds behind the Onecoin pyramid scheme, not too long ago used a contraband cell phone to maneuver no less than $20 million whereas holed up in a jail within the United States, an lawyer for one of many scheme’s victims has mentioned.

Onecoin Mastermind Taking Advantage of Regulators’ Failures

The lawyer representing victims of the Onecoin rip-off, Jonathan Levy, has alleged that the pyramid scheme’s jailed co-mastermind, Karl Sebastian Greenwood, not too long ago moved no less than $20 million which he insists was stolen from traders.

In an announcement launched on November 24, 2021, Levy explains how Greenwood, who’s at the moment detained at Manhattan Metropolitan Correctional Center, was capable of pull off the switch. He mentioned Greenwood had been aided by a community of attorneys and a contraband cellphone.

The lawyer additionally mentioned the failure of the SEC and different regulators to confiscate belongings and the 230,000 bitcoins stolen from Onecoin is aiding Greenwood’s trigger whereas making it much more tough for victims to get well their cash. He defined:

I’m shocked and dismayed there was no try to confiscate OneCoin belongings. We know that huge quantities of money, actual property, and cryptocurrency have been unlawfully obtained. The brazen acts of Karl Sebastian Greenwood from his jail cell solely verify our worst fears that with each passing day, billions of {dollars} of belongings are being positioned past hope of restoration.

Contraband Cell Phone

Using quite a few Powers of Attorney that have been issued in Dubai, Greenwood and Ruja Ignatova, one other key mastermind behind the Onecoin pyramid scheme, have efficiently managed to get banks to unfreeze financial institution accounts that held tons of of hundreds of thousands of {dollars}. Greenwood allegedly then used a cell phone that’s now within the possession of U.S. legislation enforcement to remotely execute judgment.

Meanwhile, Levy mentioned he hopes the discharge of the details about a few of Greenwood’s acts whereas in jail will drive regulators within the United States, Bulgaria, and Dubai to lastly act towards the masterminds.

Do you agree that regulators haven’t achieved sufficient to assist the victims of the Onecoin rip-off? Tell us what you suppose within the feedback part beneath.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational functions solely. It will not be a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any injury or loss brought about or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

You might also like