HashFlare co-founders request a reduction of prison time from a U.S. court

According to Techub News, as reported by Cointelegraph, the co-founders of the defunct crypto mining service HashFlare, Sergei Potapenko and Ivan Turõgin, have requested a U.S. judge to waive their additional imprisonment after admitting to telecommunication fraud, but prosecutors stated that both should be sentenced to ten years in prison for orchestrating a Ponzi Scheme worth $577 million.

Potapenko and Turõgin stated in the sentencing memorandum that, given their cooperation, and having already served time in Estonia, the sentence is excessively long. The two were arrested in Estonia in November 2022, and after serving 16 months, were extradited to the United States in May 2024, where they confessed to conspiracy to commit telecommunications fraud. They are currently out on bail in the United States, with a sentencing hearing scheduled for August 14.

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