Accused OneCoin Swindler Sebastian Greenwood Seemingly Outwits Regulators
November 24, 2021
For Immediate Release
Accused Crypto Pyramid swindler Karl Sebastian Greenwood has been moving tens of millions of dollars and assets out of the reach of regulators and victims from his Manhattan jail cell using a contraband cell phone and network of lawyers and accomplices.
Karl Sebastian Green and Ruja Ignatova are the founders of the crypto pyramid OneCoin which some say may have taken in as much as $20 billion in cash and cryptocurrency. Ignatova is a fugitive from justice and is well sustained with billions of dollars in cash and cryptocurrency. Greenwood however was apprehended by the FBI and resides in the infamous Manhattan Metropolitan Correctional Center. On September 21, 2021, Inner City Press revealed Greenwood had access to a contraband cell phone. Now it appears he put the phone to good use, appearing in court proceedings half a world away and issuing orders to lawyers and notaries.
Greenwood has managed move at least $20 million dollars and perhaps more while regulators are asleep at the switch. While the OneCoin case is perhaps the largest pyramid scheme in history, the SEC and other regulators world have as of yet not moved to confiscate the billions of dollars and perhaps as many as 230,000 Bitcoins that Ignatova and Greenwood stole from their victims. Greenwood has taken advantage of this pause to set up a network to move funds out of reach.
Both Ignatova and Greenwood have issued numerous Powers of Attorney in Dubai. These documents grant the holder the rights to OneCoin accounts and real estate. In July 2020. OneCoin bank accounts worth as much as several hundred million were unfrozen in Dubai. Greenwood using his Dubai law firm and a Power of Attorney managed to appear in court via phone and through a check kiting scheme, has managed to execute judgment on at least $20 million. A lawyer for Ruja Ignatova has shared in the bounty as well. Of more concern is a March 2021 Power of Attorney issued to a Danish dealer in gold and diamonds executed remotely and notarized via cell phone.
Dr. Jonathan Levy, a lawyer for OneCoin victims is releasing the information in the hopes that regulators in the USA, Bulgaria and Dubai will be spurred to take action to secure victim funds. According to Dr. Levy: “I am shocked and dismayed there has been no attempt to confiscate OneCoin assets. We know that vast amounts of cash, real estate, and cryptocurrency have been unlawfully obtained. The brazen acts of Karl Sebastian Greenwood from his jail cell only confirm our worst fears that with every passing day, billions of dollars of assets are being placed beyond hope of recovery.”