Estonians plead guilty to US charges in $577 mn crypto scheme / Photo: Stefani Reynolds - AFP/File
-
Democrats, Trump hold final rallies before midterm elections
-
African players in Europe: Defender Hakimi's historic hat-trick
-
Japan urges US to enforce discipline after second Marine arrest
-
Struggling Slavia face Arsenal as grim record looms
-
'Remarkable' rookie Lendeborg scores 37 as Warriors beat Clippers
-
Vikings suffer first loss while Broncos edge Chiefs in NFL
-
ExxonMobil urged to re-think Papua New Guinea gas project
-
South Korea to double spending on AI and chips in 2027
-
Asian stocks mixed as tech sector struggles to rebound from selloff
-
On All Saints' Day, Philippine mountain town honours dead with fire
-
India's royals find new power in their past
-
Years on from fall of IS, French jihadists face justice in Iraq
-
Irish bookshops help meet UK demand for Sally Rooney novels
-
Point of Law favourite at Australia's 'race that stops a nation'
-
NFL Vikings suffer first loss while Broncos edge Chiefs
-
'Kid' Antonelli gets affectionate tributes from all quarters
-
Host of fresh faces in Australia white-ball squads to face England
-
Hamilton accuses Leclerc of wrecking Ferrari hopes
-
NFL linebacker Campbell to remain hospitalized overnight
-
InterContinental Hotels Group PLC Announces Transaction in Own Shares - November 02
-
Aer Lingus and MTech Mobility Launch Live Ground Operations Technology Programme Across Three Irish Airports
-
DataMEDS AI Enters Into Agreement for Commercial Supply of Six Peptides Recommended by FDA Advisory Committee
-
Ur-Energy Announces Retirement of CFO Roger Smith, Names VP Finance Jade Walle as Successor
-
Jaguar Mining Provides Update on Permitting of the Onças de Pitangui Development Project, Minas Gerais, Brazil
-
Hospital AI Funding Faces a Reality Check: New 2027 Outlook Puts Outsourcing Savings to the Test
-
BEING rather than HAVING. A fascinating, practical STORY.
-
Electrovaya Ranks Fourth Among Canada's Enterprise - Industry Leaders in Deloitte's Technology Fast 50(TM) Program
-
International Battery Metals Announces Second Quarter Fiscal 2027 Financial Results Conference Call and Webcast
-
iAsk.ai Surpasses One Billion Searches
-
Predictiv AI Awarded Metrolinx Master Agreement for On-Demand Transit Software and Related Services
-
Electric Metals (USA) Limited Announces Results of Annual Meeting of Stockholders
-
cbdMD Completes Acquisition of the Operating Assets and Brands of Twinlab, including Twinlab, Reserveage and Metabolife Brands, Expanding Into Broader Wellness
-
Palo Alto Collaboration Company Opens Waitlist for Pana, a Personal AI That Builds Tools That Stay Yours
-
Anthony, Linder & Cacomanolis Recognized in Chambers & Partners Spotlight Florida 2027 for Securities Law Excellence
-
Tectonic Metals Intersects 5.61 g/t Au Over 41.15 m, Including 12.94 g/t Au Over 13.72 m, Within 2.86 g/t Au Over 91.44 m, Strengthening Evidence for a Second Gold System at the Flat Gold Project
-
Optimistivity Unveils Refreshed Brand and Expanded Digital Product Range
-
GameSquare to Report Q3 2026 Financial Results on November 16, 2026
-
AsiaFIN Holdings Corp. to Host Q3 2026 Earnings Webcast from New York City
-
IRS Pushes Tax Deadlines to February 1, 2027 for Washington Wildfire Counties - Clear Start Tax Explains What the Postponement Does Not Pause
-
Pre-season F1 favourite Russell 'not up to the task'
-
'Grateful' Antonelli becomes youngest Formula One world champion
-
Novak wins Mexico Open for first solo PGA Tour win
-
Four sporting prodigies who scaled the heights
-
Fast and funny, Antonelli becomes Formula One's youngest king
-
Six key races that made Kimi Antonelli a world champion
-
Antonelli becomes youngest Formula One world champion
-
Isa double sends Pau past Toulouse in Top 14
-
Japan's Shimada wins Skate Canada in Grand Prix debut
-
NFL Lions linebacker Campbell carted off to hospital
-
NFL Vikings suffer first loss while Allen sparks Bills win
Estonians plead guilty to US charges in $577 mn crypto scheme
Two Estonian nationals have pleaded guilty to defrauding hundreds of thousands of people around the world in a $577 million cryptocurrency Ponzi scheme, the Justice Department said Thursday.
Sergei Potapenko and Ivan Turogin, both age 40, were extradited from Estonia to the United States last year to face charges of conspiracy to commit wire fraud.
As part of their guilty pleas, the two agreed to forfeit assets valued at more than $400 million, the Justice Department said in a statement.
Sentencing by a US district court in Seattle, Washington was set for May 8. They face a maximum penalty of 20 years in prison.
Potapenko and Turogin were arrested in 2022 in a joint operation by Estonian police and the US Federal Bureau of Investigation.
Estonia's supreme court, after a nearly two-year legal battle, agreed last year to send the pair to the United States.
According to court documents, Potapenko and Turogin sold contracts entitling customers to a share of the digital assets mined by HashFlare, their cryptocurrency mining service.
HashFlare's sales totaled more than $577 million between 2015 and 2019 but the company did not actually have the computing capacity needed to perform the vast crypto mining it purported to perform.
A web-based dashboard alleging to show mining profits displayed falsified data and Potapenko and Turogin were unable to pay investors when they asked to withdraw their mining proceeds.
A.O.Scott--AT
