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Was OneCoin a scam?

The purported cryptocurrency project was fraudulent from its 2014 beginnings, prosecutors said, with OneCoin – co-founded by Karl Greenwood – setting up a pyramid scheme to market it to millions of people, generating as much as $4 billion in revenue.

Who are the victims of OneCoin fraud?

Many victims in the United States invested in fraudulent OneCoin cryptocurrency packages, including residents of the Southern District of New York. Greenwood was arrested at his residence on the island of Koh Samui, Thailand, in July 2018, and was extradited to the United States to face fraud and money laundering charges in October 2018.

Was OneCoin the 'bitcoin killer'?

Greenwood and his co-conspirators, including fugitive Ruja Ignatova, conned unsuspecting victims out of billions of dollars, claiming that OneCoin would be the 'Bitcoin killer.' In fact, OneCoins were entirely worthless.

Did Bankman-fried defraud investors?

On Thursday, federal prosecutors announced a revised indictment against Mr. Bankman-Fried that included several new charges and detailed the alleged scheme to defraud customers and investors and funnel tens of millions in illegal campaign contributions to political candidates and political action committees.

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