The FSB of Russia announced the arrest of residents of the Republic of Dagestan who used a Ponzi scheme to steal 1 billion rubles (more than $9 million) from investors.
We are talking about the organizers of the Yusra Global cryptocurrency pyramid, law enforcement officials say. Since 2019, the creators of the pyramid have been offering clients to invest in cryptocurrencies at 500% per annum.
“The attackers created the appearance of financial success by artificially inflating cryptocurrency quotes and paying dividends at the expense of new participants. The suspects distributed the money of deceived depositors among themselves, acquired real estate in Russia and abroad, ”the FSB assures.
The founders of the pyramid managed to earn 1 billion rubles (more than $9 million) on the Ponzi scheme. They worked in Dagestan, Moscow, Kazan and other Russian cities. In total, six people were detained on suspicion of organizing Yusra Global, two of them while trying to fly out of the country. According to the court decision, all six were taken into custody for two months.
The detainees became defendants in the criminal case under the articles “Fraud committed by an organized group of persons on an especially large scale” and “Organization of activities to raise funds and other property” (part 4 of article 159 and part 2 of article 172.2 of the Criminal Code of the Russian Federation). The articles provide for punishment in the form of imprisonment for up to 10 years and heavy fines.
On March 22, Russian law enforcement agencies detained and took into custody an employee of a cryptocurrency exchange in the Moscow region. A large amount of cash and cryptocurrency were confiscated from him. In February, Valery Lyakh, director of the Bank of Russia’s anti-fraud department, said that the organizers of financial pyramids use cryptocurrencies to avoid liability. In October, the Central Bank of Russia revealed a new
a type of financial pyramids operating on the principle of online investment games, for participation in which cryptocurrencies and electronic wallets are most often used to pay for participation.
Source: Bits
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