Send More Fraudlent Developers to Jail and Instil Sanity Into Crypto

[TastyChillySauce00]

in the United States getting fraudulent developers into prison is easy but outside the United States? not as easy. The law enforcement in each countries around the world varies from excellent to really bad. These fraudulent developers could also flee to third world countries although the interpol might be after them but it takes a lot of time to search for them. I do support this kind of real punishment toward all those fraud people but I really hope that such punishment could be enforced in the third world countries as well.

Maksim Zaslavskiy, a computer programmer from Brooklyn and the first person in the United States to be convicted of running a fraudulent initial coin offering (ICO) has been sentenced to a year and a half behind bars as over 1000 investors were duped.

https://cointelegraph.com/news/us-ico-scammer-sentenced-to-18-months-in-jail?utm_source=Telegram&utm_medium=social


I think more of this Jail time will help sanitise the cryptocurrency space. What do you guys think?

This won't make scammers to stop scamming people because there is huge money scammers used to make from it so they will always try to take the risk, i think its better to use technology to stop scammers instead of hunting for scammers

Yeah, it's always better to prevent these scammers rather than jails them since the losses might be enormous. There's no guarantee that we could catch them as well.

[1714987233]

1714987233

[1714987233]

1714987233

[Mighty_crypt]

This news should further discourage fraudsters but I doubt they will eventually stop doing such illicit  activities since the accused got only a few months of jail sentence! Well anybody could do that jail term in exchange for a few million bucks!

If we truly desire to sanitize the crypto space on these type of frauds, then the justice system should amend its laws and imposed life imprisonment on those who could be found guilty of these acts! Imho.

The fact is the jail sentence is very low, they get released after time is up and after freedom they start enjoying the money they scammed off people, the right penalty should be all scammers that are caught must return every penny back to victims after jail terms, this will be a big lesson for the rest

[StonerStanley]

Well done. He even deserves more jail time.

[slaman29]

Depends to me how much he defrauded from investors. 18 months in jail earning let us say 1k a month in USD for me is impossible in this life. So if I scammed even 20k, it would be worthwhile, since I would be fed in prison, maybe even get free study and free time in the gym, walk out and have 20k in savings to spend.

Of course I might say I am reformed and get a nice hacking tech job too!

[confreslamp]

I believe that it is a good sign towards the future of crypto currencies. Finally, there is a case where a scammer got into jail for what he has done. Hopefully, it will continue and will make less people to start fraud projects.

[bitsurfer2014]

Remember this can o ly apply to those countries where cryptocurrency is tagged as not legal.

If the developers identities are known, then they can be sued with appropriate violations regardless of their nationalities or if the country is crypto friendly or not but cases like this would be likely prosecuted successfully if there is strong evidence and if the country where those criminals are residing have extradition treaties with the plaintiffs country.

If developers stay anon such cases won't be encountered. Another measure should be put in place.

That is why its never advisable to invest into ICO's or IEO's without verifying first the real identities of developers or proponents of the project because if the project turned out to be a scam then the investors can file fraud charges to them and will  have a higher chance of getting back their investments.

The fact is the jail sentence is very low, they get released after time is up and after freedom they start enjoying the money they scammed off people, the right penalty should be all scammers that are caught must return every penny back to victims after jail terms, this will be a big lesson for the rest

Of course! A longer jail sentence should be given to these criminals if proven guilty aside from paying full and appropriate compensation to the aggrieved parties.

[nanaimogold]

Maksim Zaslavskiy, a computer programmer from Brooklyn and the first person in the United States to be convicted of running a fraudulent initial coin offering (ICO) has been sentenced to a year and a half behind bars as over 1000 investors were duped.

https://cointelegraph.com/news/us-ico-scammer-sentenced-to-18-months-in-jail?utm_source=Telegram&utm_medium=social


I think more of this Jail time will help sanitise the cryptocurrency space. What do you guys think?

Only the incompetent will end up in jail. HE gathered only $300000 in ICO. Big scammers gathered many millions. They just hired good lawyers and will be perfectly fine.

That's true. With a good legal counsel, fraudulent ICO developers can still flourish. I remember EOS paying a few bucks as SEC fine despite generating billions in token sales.

This is nothing but a too fair judgement for scammers, they won't stop scamming, if a harsh judgement are been made on them they will try to adjust, set a good example using one a scape goat and the rest will adjust

I agree harsher judgments should be doled out to discourage scammers. Like someone said, getting a few jail time for millions of dollars can be a very fair or lucrative trade for some people