Latvian Artist Threatened With Prison for Money Laundering Through NFTs

Latvian Artist Threatened With Prison for Money Laundering Through NFTs


An artist from Latvia is under investigation for allegedly selling NFTs, or non-fungible tokens, to launder money, for which he may get up to 12 years in prison. The authorities have blocked his bank accounts and launched an investigation without even notifying him.

Artist Who Sold Over 3,500 NFTs Prosecuted for Money Laundering in Latvia

Latvian artist and developer Ilya Borisov is awaiting trial amid accusations he used digital collectibles to launder €8.7 million ($8.8 million), as investigators claim to have established. He denies any wrongdoing and is determined to seek justice in court.

Trending: JUST IN: Social Media Posts Surface From Trump-Hating Judge Who Signed Warrant For FBI Raid Of Mar-a-Lago…Proving He Should Have Recused Himself

Borisov launched a website under the ‘Art ― Crime’ title, which reveals how the Latvian government froze his accounts without any formal notice. A criminal case was initiated against the artist

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend