The International Criminal Police Organization (Interpol) has announced the arrest of Edvard Sabirov, one of the suspected high-ranking figures in the Finiko investment scheme.
Sabirov was apprehended in the United Arab Emirates (UAE) after being placed on the international wanted list on November 12. Sabirov was nabbed on suspicion of his involvement in a digital asset Ponzi scheme widely considered to have cost victims losses of almost $100 million.
Finiko operated as a multilevel marketing scheme that promised investors rewards for referring new users to the platform. Russian news outfit The Bell revealed that things reached an ugly end for investors after Finiko froze BTC withdrawals on the platform and allowed investors to withdraw funds in the project’s native token, which lost nearly 100% of its value.
Immediately after his arrest, the Russian Prosecutor General’s Office wrote to Interpol’s office in the UAE to request Sabirov’s extradition. The extradition process appears to be making significant progress, with all the agencies involved working frenetically.
“The NCB (National Central Bureau) of Interpol of the Ministry of Internal Affairs of Russia, in order to notify the Emirati side, sent a confirmation of the intention to demand his extradition to Russia and a petition for his detention within 60 days from the moment of detention,” said the prosecutor’s office.
“In addition, the Prosecutor General’s Office of the Russian Federation…
