Ivan Turogin and Sergei Potapenko, former Cloud Mining co-founders of HashFlare, successfully appealed extradition from Estonia to the United States. The pair face 18 counts of fraud and money laundering, with the Tallinn Circuit Court overturning the lower court’s decision on Nov. 29, according to reports.of local media
According to the US Department of Justice, HashFlare, which operated from 2015 to 2019, was a Ponzi scheme with hundreds of thousands of victims. The total damage was more than $575 million (20,000 million baht). The company claimed that it rented out hash power for crypto mining and also encouraged investments in fake banks. If convicted in the United States, both Ivan Turogin and Sergei Potapenko face up to 20 years in prison.
Turogin and Potapenko arrested in Estonia both of whom are citizens which the Estonian governmentapproveThe men were extradited to the United States in September, according to the BBC, after an investigation of the men found thatconductin Estonia with the help of 15 Americans and is one of the largest fraud cases in the country’s history.
refer : cointelegraph.com
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