Financial literacy courses cost Krasnoyarsk residents 10 million rubles in damages

In Krasnoyarsk, a participant in a crypto-fraud scheme received 6 years in prison. Five people were injured for a total of 10 million rubles. The prosecutor's office of the Krasnoyarsk region reported this.

According to the supervisory authority, in 2022, a group of individuals created a project whose potential clients were offered free financial literacy courses, training in cryptocurrency trading, and assistance with investments. Everything looked convincing: the company had managers, analysts, video calls, presentations, a trading platform, and even an office that was shown to clients during online meetings.

In fact, as the court found, there were no real investments. People were first attracted by calls from the call center, then connected to training. They were shown trading platforms and practice trades, after which supposedly growing profits appeared on the screen.

Clients were then persuaded to buy cryptocurrency from reputable exchanges and transfer it to wallets they considered to be their investment accounts. In reality, these wallets were controlled by members of a fraudulent group. When victims tried to withdraw money, they were explained that they needed to pay commissions, insurance, additional services, or go through another financial procedure. After each payment a new condition appeared.

To be convincing, the participants in the scheme used fictitious names, fake passports and talked about their supposedly successful careers in the financial sector. In the case of the Krasnoyarsk “manager”, five citizens were recognized as victims. The total damage exceeded 10 million rubles.

The court found the man guilty of fraud and attempted fraud. He was sentenced to 6 years in prison in a general regime correctional colony. Criminal cases continue to be investigated against other defendants.