Law enforcement agencies of Russia sent a request to the authorities of the United Arab Emirates to extradite Zygmunt Zygmuntovich, who had previously been put on the international wanted list.
In September it became knownthat the Interpol branch in the UAE informed the Prosecutor General’s Office of the Russian Federation about the detention of one of the organizers of the Finiko project in the country and his placement in custody.
There is no decision on the request for extradition yet: the document is under consideration “with the competent authorities of the UAE”. Also, information about the circumstances of Zygmuntovich’s detention is not disclosed. There are suggestions that after a mutual quarrel Zygmuntovich passed
Interpol, his former partners – Edward and Marat Sabirov, who are also on the international wanted list.
Between 2019 and 2021, several companies operating under the common Finiko brand attracted funds from depositors to be placed in an “automatic profit generation system”. For advertising purposes, the organizers of Finiko promised investors the opportunity to receive passive income from 30% per annum to 5% per day.
To participate in the “financial scheme”, Finiko’s clients made deposits to the platform in the company’s internal currency – digital coins – which they purchased for bitcoins and Tether (USDT). Clients were then required to use exclusively FNK, Finiko’s native token. At the same time, the FNK token was successfully listed on the Uniswap and BitGlobal cryptocurrency exchanges, where it was traded until the Finiko collapse.
In 2021, signs of a financial pyramid were revealed in the activities of Finiko, and criminal cases were opened against a number of leaders of the organization in the Russian Federation. As of July 2022, 10 pyramid organizers are in custody, 12 more are on the wanted list.
With more than $1.5 billion in damages, Finiko has become the second largest cryptocurrency Ponzi scheme in the world, behind only Ruja Ignatova’s infamous OneCoin scam.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
