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HashFlare Founders Face 10 Years in Prison for Alleged $577 Million Ponzi Scheme
According to Deep Tide TechFlow, on August 7, Cointelegraph reported that HashFlare founders Sergei Potapenko and Ivan Turõgin face 10 years in prison, as recommended by U.S. prosecutors, for allegedly running a $577 million Ponzi scheme.
The two founders have pleaded guilty to telecommunications fraud but request the court to consider their time served. Prosecutors claim that the scheme orchestrated by the two resulted in approximately $300 million in losses for victims. The two are currently out on bail, and a sentencing hearing is scheduled for August 14.
The two founders have pleaded guilty to telecommunications fraud but request the court to consider their time served. Prosecutors claim that the scheme orchestrated by the two resulted in approximately $300 million in losses for victims. The two are currently out on bail, and a sentencing hearing is scheduled for August 14.
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