The verdict of the defendants in the Cryptoland case was issued; Imprisonment, forfeiture of property and fines in foreign currency and riyals for 7 defendants

Yesterday, the defendants in the Cryptoland digital currency exchange case were sentenced and 7 defendants in this case were sentenced to imprisonment, confiscation of property, and fines in currency and rials. According to the Chief Justice of Tehran Province, necessary measures are being taken to settle the claims with the remaining creditors.

According to Aruzdigital quote From Mizan News Agency, Ali Al-Qasi, Chief Justice of Tehran Province, announced on Monday (November 22) at the meeting of the Supreme Council of the Judiciary, the issuance and notification of the decision of the Cryptoland exchange case with more than 51,000 private plaintiffs.

In explaining the case, he said:

The accused in the main line of the case, who registered “Yekta Elixir Sabz” company in the field of medicinal plants in 1392, in 1397 started illegal activities in the fields related to cryptocurrency, which continued until September 2019, and on this date, he Initiated changes to the statutes to cover cryptocurrency activities.

Al-Qasi continued:

The main accused in the case, who is the CEO of Cryptoland cryptocurrency exchange and the manager and operator of some Telegram channels and other platforms in the field of virtual space, by abusing the limited knowledge of people about the field of cryptocurrencies in the country and even the superficial familiarity of some executive institutions with this issue And its attractiveness for conducting illegal transactions led to the creation of the BRG token, while this token was unbacked and no authorization was received from the central bank. After some time, a large amount of fake BRG token was bought by investors, and the accused also acquired huge sums of money from people through the cryptocurrency exchange and token sales.

Al-Qasi said that during the hearing of this case in the prosecutor’s office, “claims were settled” with 24,802 plaintiffs.

The electronic wallet of the main accused in the Cryptoland exchange case was identified according to the court order, and the necessary technical measures were taken to protect the property of the users and the losers; Also, the amount of one and a half million dollars of money withdrawn from one of the defendants who fled abroad has been returned.

Chief Justice of Tehran province said:

As a result of the proceedings of one of the special branches of the Revolutionary Court dealing with economic crimes, the two main defendants in the mentioned case were sentenced to 15 and 8 years in prison, as well as the payment of fines and fines of 51,000 to the private plaintiff in the form of foreign currency and Rials, the other 5 defendants were sentenced to They received imprisonment from 1 to 5 years; In addition, during the investigation of this case, the decision to liquidate the illegal company “Yekta Elixir Sabz” was also issued. Also, appropriate measures are being taken to settle the claims with the rest of the creditors.