Oh, what a spectacle of jurisprudence! The illustrious co-founders of the now-defunct HashFlare, that audacious crypto-mining venture, did beseech the honorable US judge-pleading for mercy in their further incarceration after confessing to a most cunning wire fraud. Yet, the prosecutors, with great pomposity, insist these scoundrels deserve a full decade in the gloomy dungeons for orchestrating a Ponzi scheme worth a cool 577 million dollars! 😏
On a fine Wednesday, a sentencing memorandum was dispatched to the august Seattle federal court, presided over by the venerable Judge Robert Lasnik. Within its pages, the prosecutors argued that the rascally duo-Potapenko and Turõgin-ought to be confined for ten long years for their “horrible crime” that left nearly 300 million in victim losses.
The zealous prosecutors contended that a decade-long sentence is butfitting, given that HashFlare’s deception stands as the grandest fraud ever to grace the court’s hallowed halls. Yet, in their own pleas, the accused did retort with a sly smirk, declaring such a penalty most excessive, citing their cooperation with the constabulary and the sixteen months they languished in Estonian dungeons. Ah, the irony! 😏
These cunning gentlemen were apprehended in the distant lands of Estonia in November of the year 2022 and remained confined for a full sixteen months before being spirited away to the United States in May of 2024. Upon their dramatic arrival, they confessed, with much flourish, to conspiracy to commit wire fraud. Now, they await their fate on bail, with the sentencing hearing scheduled for the fourteenth day of August. What a turn of events indeed! 🎭
Behold! The Founders Assert No Losses!
In a joint missive for sentencing, their learned counsel argued that although the accused may have grandly overstated HashFlare’s mining capacity, the company’s patrons eventually reaped a bounty of cryptocurrency far exceeding their initial investments-thanks largely to the fortuitous rise in crypto market prices since the scheme’s demise. ‘Tis a twist most unexpected! 😏
They further asserted that a staggering 390,000 customers, having invested 487 million dollars in HashFlare’s mining contracts, have since withdrawn a sum of 2.3 billion dollars. By their account, the financial hardship experienced by these patrons is far less dire than the prosecutors have portrayed. “A veritable windfall!” one might exclaim. 🤑
Moreover, the duo confidently declared that every aggrieved party shall be made whole-likely from the forfeited assets exceeding 400 million dollars, as part of their February accord. “What noble restitution!” they proclaimed with grandiloquent flourish. 😏
‘A Horrible Crime!’ Exclaimed the Prosecutors
In their submission for sentencing, the prosecutors didst focus on the prodigious magnitude of HashFlare’s fraud, deeming it a “horrible crime” that wrought losses of approximately 300 million dollars upon its hapless victims. They further accused the accused of squandering a great portion of the ill-gotten gains upon their own opulent lifestyles. “Ah, the folly of man!” one might remark with a sardonic smile. 😏
They asserted that between the years 2015 and 2019, the audacious pair did peddle mining contracts valued at 577 million dollars to some 440,000 customers, conjuring fictitious returns for investors and cunningly disbursing funds acquired from the latest arrivals. “A most elaborate masquerade!” indeed. 🎭
“HashFlare, verily, was nothing but a classic Ponzi scheme,” the prosecutors didst declare with a shake of their heads. ‘Twas a revelation most damning! 😒
They further opined that the sentence must mirror the gravity of the offense and serve as a deterrent to shield the public from future deceptions of similar vile nature. “Justice must be served!” they cried with fervor. 😏
Moreover, the prosecutors scornfully dismissed the notion that the matter ought have been adjudicated in Estonian courts, observing that over 50,000 of the 440,000 customers-investing more than 130 million dollars collectively- hailed from the United States. “No, siree! This is a matter for our own courts!” they declared with a flourish. 🤪
Homeward Bound: The Founders’ Plea
Despite their predicament, Potapenko and Turõgin continue to petition for deportation back to their beloved Estonia-a matter that may well set a precedent in how the courts of the United States address the trials of foreign nationals entangled in cross-border crypto misdemeanors. “To Estonia we shall return!” they assert, though one might question if such a desire is born of convenience or genuine patriotism. 😏
In a twist most confounding, though a court had previously decreed that they remain within the United States, the duo reported in April that a missive from the Department of Homeland Security did command their immediate deportation-a directive that has sown great confusion about the eventual course of their fate. “One moment we are to stay; the next, to depart!” they exclaimed in a tone of bemused resignation. 😂
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2025-08-07 08:23