Interpol Detains Finiko Ponzi Organizer, Russian Prosecutor General's Office Seeks Extradition

The Russian Prosecutor General's Office plans to request the extradition of Edvard Sabirov, one of the organizers of the Ponzi scheme Finiko investment fund, who is being detained by Interpol in the United Arab Emirates in a criminal case involving the embezzlement of billions of rubles, Ria Novosti reported. The Finiko crypto investment fund was created between September 2018 and July 2019 and claims to guarantee investors a daily return of up to 5%. In April, the Ministry of Internal Affairs of the Russian Federation reported that the calculated losses at that time had exceeded 5 billion rubles (currently about 80.55 million U.S. dollars).