In brief
- Legal experts say prosecutors face uphill battle appealing “unusually lenient” sentence for Estonians who ran a $577 million crypto Ponzi scheme.
- Judge Lasnik sentenced defendants to time served, rejecting prosecutors’ 10-year prison request due to concerns about foreign defendants’ treatment.
- HashFlare fraud hit 440,000 victims worldwide through fake mining contracts, with $400 million seized for compensation.
Federal prosecutors have moved to overturn what one legal expert called an “unusually lenient” outcome in one of the largest crypto frauds ever tried in the region.
The government on Tuesday appealed with the Ninth Circuit Court of Appeals the “time served” sentences handed down to Estonian nationals Sergei Potapenko and Ivan Turõgin, who pleaded guilty to conspiracy in a $577 million cryptocurrency mining Ponzi scheme.
The notice challenges both the sentencing hearing decisions and Judge Robert S. Lasnik’s written “Order on Sentencing” issued on Tuesday.
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Author: Vismaya V
