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

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Karl Sebastian Greenwood, one of the masterminds behind the Onecoin pyramid scheme, just lately used a contraband cell phone to transfer at the least $20 million whereas holed up in a jail within the United States, an legal professional for one of the 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, just lately moved at the least $20 million which he insists was stolen from buyers.

In a press release launched on November 24, 2021, Levy explains how Greenwood, who’s presently detained at Manhattan Metropolitan Correctional Center, was ready to 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 affirm 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 had 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 lots 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 some of Greenwood’s acts whereas in jail will power regulators within the United States, Bulgaria, and Dubai to lastly act towards the masterminds.

Do you agree that regulators haven’t completed 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

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