Karl Greenwood, the Co-Founder of OneCoin, the multi-billion dollar cryptocurrency pyramid scheme, has pleaded guilty to charges of wire fraud and money laundering in connection with his role in the fraudulent crypto project. The counts before him carry a maximum potential sentence of 20 years each, the Department of Justice (DOJ) said on Friday.

Greenwood, who was arrested in Thailand in July 2018 and extradited to the United States, confessed to the offenses in a Manhattan federal court before Judge Edgardo Ramos who accepted the guilty plea. He is to be sentenced by Judge Ramos on April 5, 2023, DOJ said.

“This guilty plea by the Co-Founder of OneCoin caps a week at the Southern District of New York (SDNY) that sends a clear message that we are coming after all those who seek to exploit the cryptocurrency ecosystem through fraud, no matter how big or sophisticated you are,” Damian Williams, the United States Attorney for SDNY, said in the DOJ statement.