According to the Department of Justice, one of OneCoin’s creators admitted guilt on Friday to federal charges stemming from one of the biggest financial frauds like money laundering and wire fraud ever. OneCoin Founder Admits Accusations of Wire Fraud Prosecutors said that the putative cryptocurrency initiative was fake from the start in 2014. OneCoin, which Karl Greenwood co-founded, established a pyramid scheme to advertise it to millions of individuals and make as much as $4 billion in profit, according to the prosecution. In an internal communication, Greenwood, 45, is accused of calling the investors “idiots.” Greenwood admitted to wire fraud The post OneCoin Co-Founder Admits to Wire Fraud and Money Laundering appeared first on Cryptoknowmics-Crypto News and Media Platform .
