Ponzi Schemes | ForkLog

ForkLog 9 10.12.2021

Former BitConnect director barred for life from participating in ICOs

The United States District Court for the Southern District of New York issued a verdict against former BitConnect director and promoter Glenn Arcaro, and the affiliated company Future Money Ltd., through which he attracted potential investors.

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ForkLog 8 07.12.2021

Company of the former Russian minister for digital development, communications and mass media excludes Finiko co-founder from its list of founders

Former Russian minister of digital development, communications and mass media Nikolai Nikiforov and his partner in LLC “Z-Siti” Azat Tukhvatullin, through court secured the removal of Finiko co-founder Edward Sabirov from among the founders.

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ForkLog 7 25.11.2021

Detention extended for Finiko pyramid founder

On 25 November, Moscow's Tverskoy District Court extended the detention of Kirill Doronin, co-founder of the Finiko financial pyramid.

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ForkLog 23 19.11.2021

Kirill Doronin testifies against 44 accomplices in the Finiko pyramid

Kirill Doronin, founder of the Finiko financial pyramid, gave testimony against 44 of his accomplices.

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ForkLog 26 18.11.2021

Fraud linked to launches of fake cryptocurrencies on the rise in Russia

Malicious actors have again begun using initial coin offerings (ICO) to deceive Russians.

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ForkLog 18 17.11.2021

Bank of Russia blacklists eight firms offering ‘earnings from Bitcoin’

On 17 November, the Bank of Russia expanded its list of companies with signs of illicit activity on the financial market. Eight of them attracted participants under the guise of investments in cryptocurrencies.

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ForkLog 14 17.11.2021

U.S. to Sell $56 Million in Cryptocurrency to Compensate BitConnect Investors

U.S. authorities will sell cryptocurrency worth $56 million seized from former BitConnect director and promoter Glenn Arcaro. Proceeds will go toward compensating affected investors.

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ForkLog 10 11.11.2021

Unknown actors withdraw 750 BTC from Finiko pyramid wallet

From November 1, unknowns withdrew the remaining funds on one Finiko wallet, totaling 750 BTC.

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ForkLog 16 08.11.2021

Journalists uncover London penthouse of OneCoin founder for £13.5m

OneCoin founder Ruja Ignatova bought a London penthouse for £13.5m (~$18.21m), disclosed during the trial of her lawyer Martin Breidenbach, according to the BBC.

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ForkLog 8 29.10.2021

Central Bank flags a new type of gaming financial pyramid that raises funds through cryptocurrencies

The Russian central bank has recorded the spread of a new type of financial pyramid schemes masquerading as online investment games, which also attract funds via cryptocurrencies. This was stated by Valery Lyakh, head of the Central Bank's Department for Combating Improper Practices.

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ForkLog 15 26.10.2021

Company offering ‘ruble-denominated mining’ lands on the Central Bank of Russia’s blacklist

On 25 October, the Bank of Russia expanded the warning list of companies showing signs of illegal activity on the financial market.

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ForkLog 17 18.10.2021

Court seizes assets of Finiko pyramid founder in Crimea and Tatarstan

Vakhitovsky District Court in Kazan seized six properties belonging to Finiko founder Kirill Doronin and barred deals with a car registered in his name.

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