EvoRich Ponzi founder Andrey Khovratov has been sentenced to five years in prison. Prosecutors had asked the court for a six year sentence.

Following
his arrest
attempting to flee Russia in early 2022, Khovratov was charged with five counts of participating in fraud via organized crime.

As per a January 23rd press-release from the Presnesnky Prosecutor’s Office, the Moscow court based Khovratov’s guilty verdict on EvoRich being a Ponzi scheme.

Khovratov, being the general director of Academy of Private Investor LLC, together with an accomplice who is on the wanted list and other unidentified persons, created a website accessible to an unlimited number of people, informing that anyone can become a co-owner, shareholder, shareholder, shareholder of the global an investment fund operating in all segments and sectors of the investment market.

The accomplices misled users of the Internet resource by providing deliberately false information that the investments would make it possible to implement the program of the New Economic Evolution of the World, created by Khovratov, and to receive high investment income.

In order to make a profit, the misled victims purchased cryptocurrency from the defendants, transferring funds to accounts controlled by them.

The members of the organized group distributed the funds received from the victims among themselves, evading their obligations to pay dividend income from investing in cryptocurrency, as well as to return the funds.

This is in line with
BehindMLM’s EvoRich review
, published in January 2021.

An unnamed accomplice of Khovratov’s remains wanted by Russian authorities.

🤖 Quick Answer

Who is Andrey Khovratov and what was his sentence?
Andrey Khovratov, founder of the EvoRich Ponzi scheme, was sentenced to five years in prison by a Moscow court in January 2023. He was arrested in early 2022 while attempting to flee Russia and faced five fraud charges related to organized crime activities involving an illegal investment fund scheme.

What was EvoRich and how did it operate?
EvoRich was an online investment platform presented as a legitimate fund offering co-ownership and shareholder opportunities to an unlimited number of people. Khovratov, as general director of Academy of Private Investor LLC, created the scheme with accomplices to defraud investors through false promises of investment returns and wealth accumulation.

What charges did Khovratov face?
Khovratov was charged with five counts of participating in fraud

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