Tatarstan’s Supreme Court has rejected an appeal against an arrest warrant issued against three co-founders of the infamous Finico Crypto Pyramid. Top representatives of the Ponzi scheme, who are accused of large-scale fraud in Russia, are still hiding abroad, media reports say.
Three Finiko Ponzi scheme members still wanted
The Supreme Court of the Republic of Tatarstan in the Russian Federation has issued arrest warrants in the absence of Sigmund Zygmuntovic and Marat and Edward Sabirov. The three wanted men are close associates of Finico founder Kirill Doronin.
Doronin, an Instagram influencer whose name is linked to other fraudulent schemes, was arrested in July. Authorities then in September arrested Pyramid’s vice president Ilgis Shakirav and two women, Lilia Nureyeva and Dina Gabdulina, who lured thousands of investors with promises of higher returns.
The Zygmuntovich and Sabirov brothers, however, managed to leave the country and avoid detention. In the Supreme Court of Tatarstan, government-appointed lawyers represented those who appealed internationally against the initial decision to arrest them.
During the trial, Marat Sabirov’s defense attorney, Gulnaz Nafieva, insisted that his client was already out of the country at the start of the criminal case. Despite this argument, the court did not support Sabirov’s application for revocation of the arrest warrant, Inkajan.ru reported.
According to an article published by Business Online a few days ago, investigators believe the three fugitives fled to the United Arab Emirates via Belarus. However, some sources familiar with the Finico case claim that Zygmuntovich, considered Darren’s right-hand man, is in fact hiding in Georgia’s Russian-backed isolated republic of Abkhazia. Eric Gaffarov, a Tatar businessman, was quoted as saying that Finico’s co-founder is currently in Turkey.
Meanwhile, one of Russia’s largest financial pyramids in recent years, the amount of losses officially registered in the cryptocurrency scandal has exceeded 1 billion rubles (about মিল 14 million). The scale of the fraud prompted the Federal Department of the Interior to investigate.
In addition to Russian citizens, the crypto pyramid scheme has attracted investors from Kazakhstan, Kyrgyzstan, Hungary, Austria, Germany and several countries in the region and beyond, with more than 3,300 complaints filed so far. Finico received $ 1.5 billion worth of bitcoin in less than two years before falling this summer, according to data from blockchain forensic firm Chanellysis.
Do you think the Russian authorities will be able to find and arrest the fugitive Finico’s founders? Share your thoughts about the crypto pyramid case in the comments section below.
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