A court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto pyramid, remains under detention as well.
Finiko Mastermind Doronin Denied House Arrest
Vakhitovsky District Court of Kazan, the capital of the Russian republic of Tatarstan, has decided to keep the two most prominent figures of the Finiko crypto pyramid in custody. This week, the court announced it has extended the detention period for Kirill Doronin, who established the Ponzi scheme in December 2018, until Nov. 28. Finiko defrauded hundreds of thousands of investors before it collapsed in July this year when he was arrested.
Three lawyers representing Finiko’s founder asked judicial authorities to place Doronin under house arrest, insisting he has to look after his wife, pregnant with their third child. The court, however, rejected their plea, citing the severity of the crimes he is accused of as well as the risks of him hiding from investigators, exerting pressure on witnesses and engaging in other criminal activity. Judges also pointed out that he has a Turkish passport and does not reside at his official address.
Quoted by local news outlet Realnoe Vremya, Doronin, an Instagram influencer associated with other Ponzi…