A court in Moscow has sentenced a man to prison for running a fake crypto investment scheme that targeted wealthy and high-profile individuals.
The convicted man, Grigory Muluzyan, was given a six-year prison sentence after he was found guilty of a large-scale fraud. Prosecutors said he misled investors by pretending to operate a profitable crypto trading business.
Source: rbu.ru
According to the Moscow prosecutor’s office, the scheme ran from late 2021 to early 2023. During this period, Muluzyan and his fellow accomplices were able to convince a number of individuals to invest in what they described as a successful cryptocurrency trading operation.
Muluzyan presented himself as an expert in crypto investments and promised high returns to his investors.
To gain trust, he paid some investors small profits, creating the impression that the business was legit. However, the payments stopped, and the funds were not returned. Investigators said he kept the money for his personal use.
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The scammer managed to create some sort of professionalism as he met with most of his investors in an office close to Moscow City.
Several well-known individuals were affected by the scheme. Among them were actor Pavel Derevyanko, actor Artem Tkachenko, director Marius Weisberg, and boxer Alexey Semykin.
Derevyanko was one of the biggest victims. So far, based on the report, he transferred more than 257 million rubles to Muluzyan. He even sold property and planned to sell his only apartment in an attempt to support what he believed was a failing joint venture called “Bii Soul.”
The case highlights ongoing risks in the cryptocurrency space, especially schemes that promise high and guaranteed returns.
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