Finiko executive sentenced to 3 years in crypto fraud case

Lilia Nuriyeva, a key figure in the Finiko Ponzi scheme, has been sentenced to three years in prison for her role in defrauding investors.

The scheme, led by Kirill Doronin, promised high returns through cryptocurrency and stock market trading but caused over $55 million in damages.

Doronin and his accomplices, currently in pre-trial detention, face charges of organising a criminal community and large-scale fraud.

Despite warnings from authorities, Finiko continued to attract investments until its collapse in 2021, leaving investors financially devastated.

The fallout from the Finiko scam underscores the risks associated with fraudulent cryptocurrency schemes.