Three-judge panel keeps Bitsonar pyramid founder in custody

The suspect in organising the murder-for-hire of former colleague Yaroslav Stadtchenko, founder of the Bitsonar pyramid, Alexander Tovstenko, will remain in custody during the court proceedings. The decision was made by the Primorsky District Court of Odessa, ForkLog’s lawyers from \”Yuskutum\”, who are handling the case and representing Stadtchenko’s interests, said.

The case was transferred to the Primorsky District Court after the completion of the pre-trial investigation. It will be heard by a panel of three judges — such a measure is warranted by the gravity of the crime.

During the preliminary hearing, the question of extending the term of the preventive measure was considered. It was decided that Tovstenko would continue to be held in custody, — ForkLog attorney Boris Stanislav said.

According to prosecutors, Alexander Tovstenko ordered the murder of Yaroslav Stadtchenko. It was Stadtchenko who revealed that the fund marketed as an investment fund for algorithmic trading of cryptocurrencies Bitsonar was in fact a Ponzi scheme.

Stadtchenko also said that the pyramid’s organiser was Alexander Tovstenko.

Exit-scam Bitsonar: how a former Ukrainian official built a pyramid, presenting it as an investment fund

In August 2020, Stadtchenko was abducted by unknown individuals. It turned out that this was carried out by employees of Ukraine’s security services with the aim of staging his murder. The person who ordered the murder was later arrested in Odessa.

In September, Stadtchenko reported misconduct by Tovstenko to the FBI.

At the start of December, Tovstenko was released from pre-trial detention under house arrest, and at the end of the month he was returned to custody.

He faces life imprisonment.

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