The investigation into the Russia-based crypto pyramid Finiko is growing with law enforcement officials in Samara region announcing they have launched eight criminal cases against Finiko associates. Authorities are also working to identify more victims of the Ponzi scheme, Russia’s largest in recent years.
Finiko Members Under Investigation in Samara, Russia
The Russian Ministry of Interior’s Main Department in Samara Oblast, a region bordering Tatarstan, is investigating eight cases of fraud against Finiko associates. The members of the Ponzi scheme are accused of misappropriating 6 million rubles from investors who were promised high returns on their money between July 2020 and July 2021, the department announced.
The crypto scam’s victims in these cases are all residents of Samara, law enforcement officials detailed in a press release quoted by Forklog. They were convinced by the Finiko representatives to deposit their funds worth almost $83,000, according to current exchange rates, into the scheme’s so-called…