The founders of HashFlare, Sergei Potapenko and Ivan Turogin, were involved in a staggering $577 million cryptocurrency mining Ponzi scheme. After pleading guilty to one count of conspiracy to commit wire fraud, they face a potential maximum sentence of 20 years in prison. They agreed to forfeit over $400 million in assets. Despite being extradited from Estonia and ordered to remain in Washington state until their sentencing on August 14, they received erroneous self-deportation orders from the U.S. Department of Homeland Security. These orders, which contradicted the court’s instructions, caused significant anxiety for the duo. The Department of Justice intervened, securing a year-long deferral of the deportation order to ensure the sentencing could proceed as planned.
*KUNTA OF THE ENDLESS* (NIPR).
@Billy_Kunta
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Apr 15 Nigerians never Learn. This is the list of Ponzi schemes that have made away with Nigerians hard-earned money yet they still fall muguMMM Nigeria – 2016
Ultimate Cycler – 2016
Get Help Worldwide (GHW) – 2016
Twinkas – 2016
Icharity Club – 2016
Crowd Rising – 2016
Claritta –
Specter
@SpecterAnalyst
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Apr 15 Many Nigerians — both old and young — fell victim to this scam.Even though some suspected it was a Ponzi, they went ahead, hoping to cash out early. Now they’re left in tears.
gst
@wearegst
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Apr 16 A 2022 ACCA report says Nigerians lost over ₦500 billion ($1 billion) to Ponzi schemes in the past decade.Notable cases:MMM (2016): Duped 3 million Nigerians, losing ₦18 billion ($50 million).MBA Forex (2021): Promised 15% returns, vanished with ₦213 billion ($500
Nejeeb Bello Oyarese
@NejeebBello
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Apr 17 My first encounter with Ponzi Schemes was in UNIBEN early 2000s. People fill a paper form, pay some thousands of Naira, and then print 4 copies of the original form to recruit 4 new entrants.That was 20 years ago! No adult Nigerian today can claim ignorance of Ponzis since MMM.
Pémi
@0luwapemi
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Apr 15 The amount of money that individuals lost to this thing is bewildering. Regular exchanges can blow up, it’s now a random site that you knew was for a ponzi scheme???Because I keep seeing 4K/5K/40K DOLLARS! 2 guys even doubled their capital but put everything back in
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