https://sputnikglobe.com/20221122/suspects-in-multimillion-dollar-cryptocurrency-ponzi-scheme-busted-in-estonia-1104545821.html
Suspects in Multimillion Dollar 'Cryptocurrency Ponzi Scheme' Busted in Estonia
Suspects in Multimillion Dollar 'Cryptocurrency Ponzi Scheme' Busted in Estonia
Sputnik International
The suspects allegedly laundered their ill-gotten gains through shell companies and then bought luxury cars and real estate with the money. 22.11.2022, Sputnik International
2022-11-22T12:59+0000
2022-11-22T12:59+0000
2022-11-22T12:59+0000
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Authorities in Estonia have arrested two locals accused of being involved in a $575 million cryptocurrency fraud scheme. The suspects, two Estonian citizens named Sergei Potapenko and Ivan Turogin, are being charged by a court in the US with wire fraud and conspiracy to commit money laundering.The suspects were allegedly involved in tricking people into investing into the cryptocurrency mining service HashFlare and virtual currency bank Polybius, with both of these ventures being nothing but pyramid schemes.The suspects allegedly laundered the proceeds of this fraud through shell companies and then used that money buy luxury cars and real estate.Both Potapenko and Turogin now face extradition to the United States. Four other individuals from Estonia, Belarus and Switzerland were also reportedly charged in this case, but their identities were not yet revealed to the media.
https://sputnikglobe.com/20220916/white-house-cryptocurrency-risks-hurting-us-financial-stability-national-security-1100849133.html
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estonia, cryptocurrency, fraud, suspects, arrest
estonia, cryptocurrency, fraud, suspects, arrest
Suspects in Multimillion Dollar 'Cryptocurrency Ponzi Scheme' Busted in Estonia
The suspects allegedly laundered their ill-gotten gains through shell companies and then bought luxury cars and real estate with the money.
Authorities in Estonia have arrested two locals accused of being involved in a $575 million cryptocurrency fraud scheme.
The suspects, two Estonian citizens named Sergei Potapenko and Ivan Turogin, are being charged by a court in the US with wire fraud and conspiracy to commit money laundering.
The suspects were allegedly involved in tricking people into investing into the cryptocurrency mining service HashFlare and virtual currency bank Polybius, with both of these ventures being nothing but pyramid schemes.
16 September 2022, 10:15 GMT
The suspects allegedly laundered the proceeds of this fraud through shell companies and then used that money buy luxury cars and real estate.
“These defendants capitalized on both the allure of cryptocurrency, and the mystery surrounding cryptocurrency mining, to commit an enormous Ponzi scheme,” said Seattle US Attorney Nick Brown.
Both Potapenko and Turogin now face extradition to the United States. Four other individuals from Estonia, Belarus and Switzerland were also reportedly charged in this case, but their identities were not yet revealed to the media.
