Ilgiz Shakirov, identified as a Vice President of the collapsed cryptocurrency pyramid scheme Finiko and personal assistant to its founder, was arrested in Kazan, Russia. The Vakhitovsky District Court ordered Shakirov’s detention until September 28th. He reportedly managed a downline of over 100,000 Finiko affiliates.
Two other high-ranking Finiko promoters, Dina Gabdullina and Lilia Nurieva, also face arrest. Gabdullina held the rank of Vice President, while Nurieva was a 10 Star affiliate, the scheme's highest tier as of May 2020. Nurieva admitted during questioning that she promoted Finiko on Instagram. She further confessed to selling personal property to invest in the fraudulent operation.
Finiko founder Kirill Doronin is already in custody. He faces up to ten years in prison for his role in the scheme. Authorities continue to search for Finiko co-founders Edward Sabirov, Marat Sabirov, and Zygmunt Zygmuntovich. These individuals remain wanted by police.
The existence of the Vice President rank in Finiko’s affiliate structure was not documented in May 2020, suggesting it was introduced at a later stage to incentivize recruitment. The pyramid scheme collapsed, leaving an unknown number of investors with substantial losses. Russian law enforcement continues its investigation into the full extent of the fraud.