Finiko Ponzi Scheme Fallout: Key Executive Lilia Nuriyeva Sentenced to 3 Years in Prison
Crypto Fraud Fallout: Finiko Executive Sentenced to 3 Years in Prison
The Vakhitovsky District Court of Kazan has sentenced Lilia Nuriyeva, a key participant in the notorious Finiko Ponzi scheme, to three years in prison.
How Crypto Ponzi Scheme Finiko Conducted $55 Million Scam
Finiko, often compared to the infamous MMM Ponzi scheme, lured investors with promises of high returns through a purportedly unique cryptocurrency and stock market trading system.
- Doronin promised substantial returns through an automatic profit generation system, urging people to invest by taking out loans and selling their homes.
- Investors received dividends in Bitcoin initially but suffered losses when Finiko's own cryptocurrency plummeted in value.
Nuriyeva's Sentence and Doronin's Indictment
Nuriyeva's lenient three-year sentence came after a pre-trial agreement, contrasting with facing up to ten years in prison initially. Meanwhile, Doronin and nine other accomplices are detained, facing charges of organized criminal activity and fraud.
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