Sergei Potapenko and Ivan Turõgin, 37, are accused of defrauding hundreds of thousands of victims. They allegedly funneled victims’ funds through a complex network of shell companies, bank accounts, virtual asset services, and cryptocurrency wallets. Instead, the fraudulently obtained funds were used to buy at least 75 real estate properties, luxury cars, and fill their cryptocurrency wallets, and invest in thousands of cryptocurrency mining machines. The two are charged with 16 counts of wire fraud, one count of conspiracy to commit money laundering. If convicted, each of them faces a maximum penalty of 20 years in prison, each could be sentenced to 20 years if convicted of 20-years-a-sentence. They never paid the investors any dividends and never formed a bank . . .
[su_button url=’https://www.bleepingcomputer.com/news/security/two-estonians-arrested-for-running-575m-crypto-ponzi-scheme/’ target=’_blank’ style=’ghost’ background=’#010066′ color=’#010066′ size=’2′ wide=’no’ center=’no’ radius=’auto’]Read more at www.bleepingcomputer.com[/su_button]
By
By
By
By
By
