Court Extends Detention of Finiko Pyramid Founder Doronin and His Right-Hand Man. Kirill Doronin, the originator of Finiko, Russia’s greatest Ponzi scam in recent memory, has had his imprisonment extended by a Tatarstan court. Doronin will be in jail for at least two more months, since officials believe he may flee the country. Ilgiz Shakirov, the crypto pyramid’s vice-president, has also been under arrest.
Finiko Mastermind Doronin Denied House Arrest
The Vakhitovsky District Court in Kazan, the Russian republic of Tatarstan’s capital, has chosen to detain the Finiko crypto pyramid’s two most important individuals. The court announced this week that Kirill Doronin, who founded the Ponzi scam in December 2018, will be under arrest until November 28. Finiko scammed hundreds of thousands of investors until collapsing in July of this year, the time of his arrest.
Three attorneys for Finiko’s founder requested that Doronin be placed under house arrest. Claiming that he must care for his wife, who is expecting their third child. However, the court turned down their request. Citing the seriousness of his offences. As well as the dangers of his hiding from investigators, pressuring witnesses, and participating in other illegal activities. The fact that he possesses a Turkish passport and does not live at his official location also highlighted by the judges.
Doronin, an Instagram celebrity previously linked to various Ponzi scams, confessed he was well aware of the dangers he was taking. “As a person who most often talked about the ‘Phoenician’ project in this nation,” according to local news source Realnoe Vremya. He maintained that an examination of the inquiry documents revealed that his involvement “was not prominent in the asset management”.
Finiko enticed investors from Russia, Ukraine, and a number of other nations in the area and beyond. Including Kazakhstan, Kirgizstan, Hungary, Austria, Germany, and the United States, with promises of extremely high profits. So far, almost 3,300 complaints have been made. The Ponzi scam has received over $1.5B in bitcoin in less than two years, according to a study by Chainalysis.
Crypto Pyramid ‘Vice President’ Ilgiz Shakirov Remains in Custody
In addition to Doronin, police in Tatarstan detained the crypto pyramid’s “Vice President,” Ilgiz Shakirov. A businessman from Kazan who climbed to high positions in the phantom company. After reportedly recruiting 100,000 individuals to the Ponzi scam. The Vakhitovsky District Court on Wednesday prolonged his imprisonment until the last Sunday in November, the same date as Doronin’s.
Two ladies from the crypto pyramid’s crew were also under arrest by Russian law enforcement. Another “vice president,” Dina Gabdullina. And Lilia Nurieva, who attained the position of “10th star” in the Finiko hierarchy are suspicious of using multi-level marketing tactics to get investors to contribute over $10 million to the scam.
Another three co-founders, Zygmunt Zygmuntovich, Marat and Edward Sabirov. Who have been given international arrest warrants after they managed to flee Russia before the inquiry began in late July. Court officials have reportedly permitted investigators to seize possession of 12 real estate assets owned by Zygmuntovich and Kirill Doronin, according to media sources.