A criminal gang in Ukraine extorted $800,000 from a family of crypto entrepreneurs

• A criminal group with “watchmen” was exposed in Ivano-Frankivsk region.
• They terrorized entrepreneurs and demanded large sums for fictitious debts.
• They demanded $800,000 from the family of crypto-entrepreneurs.

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Law enforcers detained the participants of the organized criminal group, which was headed by the “watchman” for Kolomyia. Among the victims — a family of cryptocurrency entrepreneurs — from them demanded $800 000 allegedly for “debts”. This was reported by the National police of Ukraine.

According to the investigation, the criminal group operated in Ivano-Frankivsk region and other regions. The group consisted of 12 people, including criminal authorities and so-called “watchmen” for cities, districts and even correctional institutions. They already had convictions for serious crimes.

The statement said that the defendants, using pressure, threats and blackmail, demanded money from local residents. The amount of “debts” depended on the victim’s financial condition and ranged from $8,000 to $800,000, with the largest amount demanded from the family of crypto-entrepreneurs.

Police and the SBU conducted searches in nine regions. As a result, law enforcers seized weapons, cars, money and draft records.

12 members of the group were reported on suspicion under part 4 of article 189 of the Criminal Code of Ukraine (extortion). They face up to 12 years in prison with confiscation of property. All the defendants are in custody.