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US Seeks 10-Year Sentences for HashFlare Founders in $577M Crypto Fraud Case
US Seeks 10-Year Sentences for HashFlare Founders in $577M Crypto Fraud Case
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BTCCSquare news:
HashFlare co-founders Sergei Potapenko and Ivan Turõgin face a pivotal sentencing hearing on August 14 after pleading guilty to wire fraud conspiracy. US prosecutors demand a decade-long prison term, labeling their cloud mining operation a $577 million scheme with $300 million in victim losses. The defendants counter that their 16-month Estonian detention suffices as punishment.
The Seattle court filing reveals starkly divergent narratives. Prosecutors depict a brazen fraud spanning 2015-2019, while the founders claim customers withdrew $2.3 billion and promise full restitution through $400 million in forfeited assets. This cross-border case may set precedents for crypto fraud prosecutions.
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