Today, the Department of Justice announced the beginning of the remission compensation process to provide recovery for victims of the international investment scheme involving OneCoin Ltd.
Between 2014 and 2019, Ruja Ignatova and Karl Sebastian Greenwood, co-founders of OneCoin Ltd. (OneCoin), and others orchestrated a large, international cryptocurrency investment scheme defrauding investors from around the globe. OneCoin, which began operations in 2014 and was based in Sofia, Bulgaria, marketed and sold a fraudulent cryptocurrency by the same name through a global multi-level-marketing (MLM) network. As a result of misrepresentations made about OneCoin, victims invested over $4 billion worldwide in the fraudulent cryptocurrency. The Department of Justice filed a number of OneCoin-related prosecutions in the Southern District of New York. Several key figures involved in the scheme…
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