Finiko founder’s detention extended to January 30, 2024

On October 17, the Moscow City Court granted the investigators’ motion in the case of Finiko founder Kirill Doronin and kept him in custody until January 30, 2024.

Doronin has been in pre-trial detention since the end of July 2021. As part of a deal with the investigators, he gave evidence against 44 accomplices. At the same time he did not admit his guilt and denied embezzlement of funds.

An investigation has been opened against Finiko for fraud on a large scale. The total losses from the pyramid’s activities — according to independent estimates — exceed $4 billion. The number of victims is at least 850,000 people.

In September 2022, in the UAE, Finiko’s co-founder Zygmunt Zygmuntovich was detained, and in December — Edward Sabirov. The latter was later released on bail of 1 million dirhams (~$270,000).

The remaining fugitive, Marat Sabirov, has been declared on an international wanted list and arrested in absentia.

In late September 2023, Russia handed over to Kyrgyzstan the alleged co-founder of the pyramid.

For more on the Finiko founders’ exit scam, read in the ForkLog article.