Russian police are hunting three men accused of running one of the country's biggest investment scams. Edward Sabirov, Marat Sabirov, and Zygmunt Zygmuntovich have fled the country and now face arrest warrants and an international manhunt.

The trio initially cooperated with investigators last December. They told police they were following orders from Kirin Doronin, the scheme's architect. That testimony helped collapse Finiko and land Doronin in custody late last month. Since then, the three co-founders have disappeared across Russia's borders. The next phase is arrest in absentia warrants and an Interpol red notice.

Doronin's escape attempt came first. In early July, he boarded a flight to Turkey using a fake passport. Once there, he opened bank accounts under aliases and allegedly instructed the Sabirovs and Zygmuntovich to drain what remained of Finiko's investor money out of Russia.

Now cornered in court, Doronin is blaming his former partners. He claims they absconded with the funds—a convenient excuse that sidesteps harder questions about the scheme itself. His legal defense rests on a bizarre argument: Finiko couldn't have been a Ponzi scheme because it operated for three years before collapsing. "I didn't steal someone else's property by deception," Doronin told the Supreme Court of Tatarstan this week. "For three years it worked flawlessly, and this is an indicator of serious stability."

The math doesn't hold. Finiko's original points-based Ponzi collapsed in late 2020, prompting a reboot using FNK tokens. The scheme had no legitimate revenue stream. Forensic accounting shows it cannot cover the tokens it issued. Doronin's three-year timeline is a fiction he created by relaunching the same scam under new branding.

Russian authorities aren't buying his story either. The Ministry of Internal Affairs is conducting its own investigation and interrogating top promoters. The court hasn't decided whether to charge them yet.

During yesterday's hearing at the Supreme Court in Tatarstan, bailiffs wore bulletproof vests, acting on suspicions that Doronin has ties to organized crime. His mother testified, offering to house him if released. The court rejected the request.

Doronin's time in Turkey raises additional questions he won't answer. Blogger Andrei Alistarov reported that Doronin was kidnapped there and extorted for $50 million by Erik Gafarov, a fugitive wanted in connection with another fund collapse. When pressed about this at the hearing, Doronin first claimed ignorance, then refused to comment.

The Supreme Court denied his release. The Sabirovs and Zygmuntovich remain at large.

🤖 Quick Answer

Who are the Finiko co-founders wanted by Russian authorities?
Edward Sabirov, Marat Sabirov, and Zygmunt Zygmuntovich are three co-founders of Finiko accused of operating a major investment fraud scheme in Russia. They fled the country after initially cooperating with investigators and blaming scheme architect Kirin Doronin for directing their actions.

What legal measures have been taken against the fugitive co-founders?
Russian police have issued arrest warrants in absentia against the three co-founders. An Interpol red notice has been activated to facilitate their international capture and extradition proceedings across borders.

How did the Finiko scheme collapse?
The collapse occurred after the three co-founders testified against Kirin Doronin, the scheme's primary architect, during initial police cooperation. Their testimony led to Doronin's arrest

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