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<div class="cryptonews">
 <p class="is-style-lead">The Estonian government has overruled and approved the extradition of HashFlare founders to the U.S. despite a prior block by the Tallinn court.</p>
 <p>Estonia has given the green light to extradite to the U.S. two Estonian crypto entrepreneurs behind HashFlare, a $575 million Ponzi scheme, according to a report from a local news outlet Potimees.</p>
 <p>This decision follows the Tallinn Circuit Court’s <a rel="noopener noreferrer nofollow" title="block" href="https://thebittimes.com/tag/block.html">block</a> in November 2023, where it criticized the Estonian <a rel="noopener noreferrer nofollow" title="government" href="https://thebittimes.com/tag/government.html">government</a> for failing to thoroughly investigate essential circumstances in the <a rel="noopener noreferrer nofollow" title="extradition" href="https://thebittimes.com/tag/extradition.html">extradition</a> decision involving Ivan Turogin and Sergei Potapenko. The U.S. authorities accuse them of laundering $575 million of clients’ funds for the purchase of real estate and luxury cars.</p>
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 <p>Estonia’s Ministry of Justice, after a comprehensive review, has now determined that sufficient evidence has been gathered, ensuring that the <a rel="noopener noreferrer nofollow" title="extradition" href="https://thebittimes.com/tag/extradition.html">extradition</a> does not disproportionately infringe on the fundamental rights of the individuals. However, the specific timeline for the <a rel="noopener noreferrer nofollow" title="extradition" href="https://thebittimes.com/tag/extradition.html">extradition</a> of Potapenko and Turogin to the U.S. to face fraud charges remains unclear.</p>
 <p>Turogin and Potapenko were arrested in Estonia in November 2022 following a written request from the U.S. Department of Justice (DoJ), seeking their <a rel="noopener noreferrer nofollow" title="extradition" href="https://thebittimes.com/tag/extradition.html">extradition</a>. The indictment alleges that the duo deceived victims into purchasing fraudulent equipment rental contracts with the crypto mining service HashFlare and investing in a crypto bank named Polybius Bank.</p>
 <p>Prosecutors claim that both businesses operated a Ponzi scheme. According to the DoJ, Potapenko and Turogin used shell companies to launder $575 million of clients’ money.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/estonian-government-overrules-court-block-allows-extradition-of-hashflare-duo-tbt77844.html">https://thebittimes.com/estonian-government-overrules-court-block-allows-extradition-of-hashflare-duo-tbt77844.html</a></p>

Estonian government overrules court block, allows extradition of HashFlare duo

TheBitTimes

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