Former Finiko executive Liliya Nurieva was given a three-year jail term by a Vakhitovsky, Kazan court. Nurieva had a pre-trial arrangement with prosecutors that resulted in a reduction of her sentence from the original possible ten-year penalty.
With its 2018 launch, Finiko was classified as a cryptocurrencycurrency “investment fund.” The firm made up promises to investors to receive up to 30% of their $1,000 or more initial contributions. Before Finiko collapsed in 2021, investors contributed almost $1.1 million worth of Bitcoin. The corporation stopped making payments by June of that same year, and the value of its coin fell precipitously.
Including the time she has already served since her arrest, the court rejected the prosecution’s request for a six-and-a-half-year sentence, as Izvestia reported.
The executive of Finiko has never before received a sentence. Managing network operations, Nurieva intends to contest the ruling. She has been accused with fraud and criminal organization charges and has even demonstrated that she was not aware of any illicit activity taking place inside the company.
More regulation may be possible if the outcome of this case influences the next cases in this cryptocurrencycurrency space.
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