TechFlow news, August 27 — According to Decrypt, U.S. federal prosecutors have filed an appeal with the Ninth Circuit Court of Appeals, challenging the sentencing outcome in the HashFlare cryptocurrency Ponzi scheme case.
Previously, Estonian defendants Sergei Potapenko and Ivan Turõgin pleaded guilty to a $577 million cryptocurrency mining Ponzi scheme, but the judge sentenced them only to three years of supervised release and fined each $25,000, rejecting the prosecution's request for 10-year prison terms.
Legal experts say the chances of a successful appeal are low, as Judge Lasnik provided well-reasoned justifications for the sentence, including considerations of time already served and immigration risks.
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