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US ICO Scammer Sentenced to 18 Months In Jail

Published 11/18/2019, 08:30 PM
Updated 11/18/2019, 10:01 PM
US ICO Scammer Sentenced to 18 Months In Jail

Maksim Zaslavskiy, a computer programmer from Brooklyn and the first person in the United States to be convicted of running a fraudulent initial coin offering (ICO) has been sentenced to a year and a half behind bars.

As Law360 reported on Nov. 18, the Brooklyn businessman received a prison sentence of 18 months for running two scam ICO’s, both of which were advertised as being backed by collateral — diamonds and real estate, respectively — that did not exist. Zaslavskiy pleaded guilty in November 2018 to conspiracy to commit securities fraud.

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