• A court in Moscow has sentenced a former hockey player to a four-year jail term over a Bitcoin scam.
  • Musatov failed to fulfill his obligations in the role.

Igor Musatov, an ex-hockey player, has been sentenced to imprisonment by a law court in Moscow, due to his role in a Bitcoin scam that cost about $500,000. Following the previous report by Cryptopolitan, the said hockey player was arrested last year and has been kept under detention. At the time, he denied the accusations against him by the victim.

Court sends Musatov to jail over a Bitcoin scam

According to the information on Monday, the Presnensky District Court in Moscow awarded Musatov a four-year jail term. The hockey professional failed to fulfill his obligation in a business deal involving Bitcoin worth 40 million Russian Rubles. Following the current exchange rate, the amount will be worth about $500,000. The Bitcoin scam was pulled against an IT company CEO over the past two years.

Musatov reportedly lured the IT expert into a fake Bitcoin business where he intended to sell 103 BTC for $500,000, which was way lesser than the actual price of the cryptocurrency in the market during the time. Having been convinced, the IT expert agreed to the business terms and anonymously paid the cash to Musatov’s representatives. After the payment, all his attempts to contact the hockey player proved abortive. 

The road end

As the IT expert couldn’t receive the cryptocurrencies he paid for, it then occurred to him that he had been victimized in a Bitcoin scam. At this point, he contacted the police on the account that Musatov deceived him in a fraudulent Bitcoin business. According to RASPI, the investigators petitioned for the arrest of Musatov on September 16, 2019.

This comes as a quick reminder to Bitcoin and other crypto investors not to engage in any crypto business that sounds too good to be true. Chances are such deals are likely going to scam.

This post was last modified on January 5, 2021 9:06 am