Hashflare Co-Founders Plead Guilty in Bungled Trial
Hashflare founders Sergei Potapenko and Ivan Turãgin today expressed guilt about wire fraud conspiracy. The Department of Justice (DOJ) has imposed nearly 20 charges against the couple, hoping to receive a lighter sentence through cooperation.
Prosecutors seriously exaggerated their hands, completely discredited their star witnesses, and usually turned the lawsuit into a farce.
Hashflare pleads avoid the worst outcome
Before everything crashes, Hashflare is Ostensibly a well-known cloud mining business. But Estonian co-founders Sergei Potapenko and Ivan Turãgin Arrested in 2022 and was accused of defrauding $575 million of investors.
After a long legal battle, Hashflare’s co-founder promises Sinful Today we have to commit fraud and conspiracy.
“As Ivan admits today, one of his businesses with Sergei promised to mine cryptocurrencies, which is actually my cryptocurrency, but not as much as I promised. Instead, it sometimes The client will be repaid through cryptocurrencies purchased on the open market. However, it is important that no client has been hurt as we will show in the judgment.” The defense attorney said.
In short, Hashflare executives acknowledge They committed fraudbut efforts show that the impact of its behavior is limited. They promoted hashflare An easy way to mine cryptocurrency from homebut far from reaching enough resources to fulfill these promises.
Instead, they use customer funds to buy assets and transfer them as mining rewards.
FBI claim The site operated from 2015 to 2018, when they “invoked a clause in Hashflare’s Terms of Service that could be turned off if it was unprofitable for 28 days.”
Most user funds go directly into their richness. Nevertheless, as they are in their Request for guiltthe founder showed regret and desire to repay the user.
To this end, they agree Confiscated all frozen assets and provide consumer data to help with reimbursement efforts. These assets include several luxury cars and real estate. But these actions and guilty pleas are not enough to reduce the verdict of Hashflare co-founder: prosecutors made great mistakes.
Specifically, the Justice Department claims that the two managed to move out $95 million in crypto goods after being arrested, proving that “they lied to pretrial services and could not be trusted.” But the main witness of the federal prosecutor was completely discredited and the lawsuit became a little ironic.
Taking one example of these serious mistakes, prosecutors were forced to admit that their representative compensation was more than $225 million.
From here, negotiations begin to save some of the judicial appearance. Hashflare executives have taken on one charge, while nearly 20 others have been completely abandoned. It is not clear what sentences they will receive, but it may be worse.
Disclaimer
persist in Trust Project Guide Beincrypto is committed to impartial, transparent reporting. This news article is designed to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
