- Oct 25, 2021
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Kirill Doronin Ready to Expose His Closest Finiko Associates
The man behind the cryptocurrency pyramid Finiko has offered to cooperate with Russian authorities in a likely attempt to limit the repercussions for himself. Kirill Doronin, an Instagram influencer associated with other scams in the past, now wants to testify against 44 of his subordinates who, as he claims, “went against the precepts” of Finiko by taking fiat cash from victims, which he insists he never authorized.
Doronin was detained as the Ponzi scheme crumbled this summer, and has since been moved from the Russian Republic of Tatarstan to the capital Moscow where the federal Ministry of Internal Affairs (
An article published by the Russian “Business Online” portal, quoting law enforcement sources, reveals that Doronin has recently offered to provide exposing information about his accomplices. “I am ready to give revealing testimony about the participants of the Finiko company who illegally collected fiat money (Russian rubles and U.S. dollars),” the head of the phantom entity said in a petition addressed to the chief investigator on the case, Grigory Antonov.
During an interrogation on Nov. 18, which lasted for hours on end, Kirill Doronin gave the MVD officials a list of 44 people, around 10% of Finiko’s “stars” or the pyramid’s influencers, whose task was to entice investors. “In relation to each of the above persons, I am ready to provide both incriminating testimony and additional evidence confirming the illegality of the actions of these persons,” Doronin wrote in the document, further stating:
I have always been categorically against attracting fiat funds and have always (during meetings) talked about banning fiat, only cryptocurrency transactions.
“Business Online” notes that Doronin’s defense is obviously trying to convince investigators, and the court at some point in the future, that the founder of Finiko has ordered its employees to accept only cryptocurrency. But this can prove problematic for him as crypto deals are not legal in Russia and also because the Ponzi scheme’s members had offered investors, the majority of whom did not possess digital currency, the option to convert their fiat funds into crypto assets.
According to a
Among the 44 names on the blacklist, prepared and signed by Doronin, are many of the already known faces of Finiko. These include two of his vice presidents,
Doronin Becomes Father, Seeks House Arrest
Kirill Doronin’s lawyers hope that authorities will agree to change his detention to house arrest in exchange for his cooperation with the investigation, especially in the light of him recently becoming a father. This is unlikely to happen, however, as the Finiko mastermind is still refusing to admit personal guilt.
What’s more, his testimony does not mention the identities of those who “technically” designed the fraudulent scheme, facilitated the transfer of funds abroad, and most importantly, the criminals and potentially officials who protected Finiko, allowing it to grow from a regional scam to the level of the notorious
At the same time, the report points out, the Russian public is still waiting to hear the answer to the main question: Where is the money? In early November, reports quoted Russian Youtuber Andrey Alistarov who alleged that 750
In September, a high court in Tatarstan
Do you think Russian authorities will be able to restore the funds of defrauded investors and bring the responsible Finiko members to justice? Tell us in the comments section below.