In August last year, the victims filed an amendment claim for a massive fraud by OneCoin, which they claimed, has caused them injuries in excess of $4 billion.
However, in a dramatic turn of events, the victims are now withdrawing their claims and filed for the dismissal of their claims against two of the individuals involved in the purported fraud, Sebastian Greenwood and Andreeva Dilinska. They filled the claim withdrawal in on Feb. 28 at the Southern District Court in New York.
Sebastian Greenwood is the co-founder of OneCoin and is believed to be based in Sweden. He has represented the OneCoin organization in various capacities and people see him as the public face of OneCoin.
He was a recruiter/affiliate for the OneCoin organization and was successful in raising funds through public appearance and via social media files. Greenwood was a major part of the organization and nothing goes into the organization without his notice.
On the other hand, Andreeva Dilinska was formerly the head at the legal and complaints department of OneCoin. Her role in the defunct company was as a spokesperson, promoter, and high-level executive. She manages all investigations of the activities of OneCoin by various law enforcement bodies and countries all over the world.
Also, she, along with Mark Scott, was board members of two investment funds used to launder the funds they get from the fraudulent OneCoin investment program.
As a marketing expert, Greenwood played a vital role in planning OneCoin’s multi-level marketing structure. He also set up and organized its worldwide army of promoters and recruiters, as well as preparing sales pitches the OneCoin used to convince investors to deposit funds with the organization.
In the dismissal notice by the victims, they stated that the prosecution action against Salinska and Greenwood will be done without prejudice against the two defendants.
Dismissal notice will not affect other claims
While the plaintiffs have filed a notice of dismissal of Salinka and Greenwood, the Court has stated that it will not affect other claims by other parties in the litigation. Also, the dismissal claims by the plaintiffs will have no effect or impact on the ability of other putative class members or the plaintiff to file complaints against Dilinska or Greenwood in the future.
In 2014, Ruja Ignatova and Greenwood initially floated BigCoin which is the predecessor of OneCoin.
German security authorities have warned people to stay off the OneCoin Investment. “At this point, it’s clear that anyone still investing new money into OneCoin has not done any research. Any cursory search about OneCoin will yield warnings from central banks and numerous reports on the illegitimacy of OneCoin,” they stated.