UAE Transfers Finiko Co-Founder Involved in Ponzi Scheme to Russian Officials

Deportation of Finiko Co-Founder: A co-founder of the Finiko Ponzi scheme has been deported from the UAE to Russia, where he faces charges of creating and leading a criminal organization and large-scale fraud.

Impact on Victims: The scheme, which operated from 2018 to 2021, defrauded over 7,700 victims, resulting in losses exceeding 1 billion rubles ($12.7 million), with investigations ongoing into the activities of its organizers.

International Cooperation: The deportation was facilitated through Interpol and involved negotiations between Russian and UAE law enforcement agencies, highlighting international efforts to address the fallout from the scheme.

Ongoing Investigations: The Russian Interior Ministry continues to investigate the case, with several high-ranking members of Finiko previously arrested in the UAE, while the total losses from the scheme are believed to be much higher than official estimates.