Vladimir Smerkis, co-founder of Telegram-based crypto project Blum, has been arrested in Moscow on suspicion of large-scale fraud. The Zamoskvoretsky District Court approved his detention following a request from state investigators, according to reports from the Russian news agency TASS on Sunday. The charges against Vladimir Smerkis are based on Article 159 of Russia’s criminal code, which addresses serious fraud crimes. If convicted, Smerkis could face up to 12 years in prison. Authorities have not yet confirmed whether formal charges have been filed. Past Ventures Under Scrutiny Local media outlet Mash linked Vladimir Smerkis and this investigation to previous crypto ventures, ‘The Token Fund and Tokenbox’. Both platforms were launched in 2017. Combined, those projects allegedly resulted in losses of around $15 million for investors. Although Blum is not connected to these older ventures, the incident has placed the project under intense scrutiny. Notably, Smerkis also once headed operations for… Read More at Coingape.com

The post Blum Co-founder Vladimir Smerkis Detained in Russia on Fraud Charges appeared first on CoinGape.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed