Finiko Crypto Scam Ex-Manager Sentenced to Three Years

IconCryptoNewsTerminal Staff21 May, 2024

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Finiko Crypto Scam Ex-Manager Sentenced to Three Years

Lilian Nurieva, the former network manager of the Russian crypto scam project Finiko, has been sentenced to three years in prison for her role in the scheme. The Vakhitovsky District Court in Kazan, Russia, found Nurieva guilty of defrauding individuals and participating in an organized criminal group. Finiko, which operated from 2020 to 2021, falsely marketed itself as a cryptocurrency investment fund. It used a multi-level marketing scheme to attract new users, promising them rewards for bringing in new investors. The scheme reportedly amassed over $55 million before it collapsed. Nurieva was one of several individuals arrested in connection with the scam.