A few years back, the entire world was shocked to witness a major fraud that had taken place in the cryptocurrency industry. The fraud was organized by a group of swindlers from Russia.
Together, these fraudsters were able to pull off the largest crypto pyramid ever recorded in Russia. It is also considered one of the largest crypto pyramid frauds carried out in the entire world.
The name of the particular crypto pyramid was “Finiko”, and it ended up depriving people of loads of money.
A Finiko Operative Has Been Caught
Sooner or later, every criminal faces justice, and this time, it is one of the masterminds behind Finiko who will become an example of karma.
There are reports that one of the masterminds who were behind Finiko, has been caught and detained in the UAE.
The individual is currently under custody in the United Arab Emirates while further instructions are given about him.
The inside sources have confirmed that the name of the person is Edward Sabirov, who had fled to an Arab country after carrying out the pyramid fraud.
This is not the first individual that the law enforcement authorities have arrested who is related to the same Ponzi scheme.
A month back, law enforcement authorities arrested Zygmunt Zygmuntovich, the co-founder of the Finiko fraud.
According to the officials at the UAE law enforcement authorities, both individuals were wanted for running a crypto pyramid scheme.
They were among the people who masterminded the entire fraudulent scheme. As a result, they were able to deprive thousands of people of funds worth several million.
Sabirov was on the Wanted List
Turns out, the Russian law enforcement authorities had not forgotten about them. They were determined to hunt them down and had even asked for international support and the UAE responded well.
The authorities have confirmed that the Russian Prosecutors General’s Office had issued an international warrant against Sabirov. The warrant was released under the name of Edward Sabirov on November 12.
Almost two weeks after the issuance of the international arrest warrant against Sabirov, the UAE authorities have arrested the criminal
The announcement of his arrest was made on November 30th by the UAE’s National Bureau of Interpol. The UAE authorities are already in contact with the authorities in Russia.
The Interpol teams based in Russia have already filed a petition for Sabirov’s 60-day detention. The government of Russia is also dealing with the matter very seriously.
Even the Ministry of Justice of Russia is involved in the matter. The Ministry has also launched a request from their end for the extradition of Sabirov.
If the request is accepted, Sabirov will be flown and handed over to the Russian law enforcement authorities for further proceedings.
Marat Sabirov is Still Wanted
Although the authorities have arrested two masterminds behind the Finiko scam, they are after another person, Marat Sabirov.
According to the authorities, Marat is also a high-profile representative and can provide critical information about the Finiko fraud.
He is still wanted and an international warrant has been issued under his name as well. As per the authorities, the Sabirovs were among the top-level management behind the Finiko scam.
They were close to the founders and other masterminds who had planned the entire crypto pyramid. They are also after the associates of Finiko and from the looks of it, it is only a matter of time before they will get them.
Kirill Doronin, the founder and the mastermind behind Finiko had already been arrested by the Russian police back in 2021.
However, the Sabirovs as well as Zygmuntovich had managed to flee from Russia and had reportedly entered the Arab region.
The mentioned mastermind had been operating the crypto pyramid from Kazan and had branched it out to 70 other locations within Russia.
They claimed that the investors investing in the scheme would get up to 5% daily returns. In a short period of time, Finiko was able to accumulate around $80 million from more than 10,000 users.