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Oyster Protocol founder Amir Bruno Elmaani admitted he had secretly minted and sold the project’s PRL tokens for his gain. Elmaani will spend four years in prison for causing $5.5 million in tax losses. In a press release on Oct. 31, the United States Attorney’s Office noted that Elmaani pled guilty to tax offenses in April 2023. Yet, he will get the maximum sentence allowed by statute for secretly issuing and selling Pearl (PRL) tokens for his gain without paying taxes on crypto profits. Elmaani also agreed to pay restitution of $5.5 million. “Amir Elmaani violated the duty he owed to pay taxes on millions of dollars of cryptocurrency profits, and he also violated the trust of investors in the cryptocurrency he founded.” U.S. Attorney Damian Williams You might also like: Oyster Pearl’s anonymous founder disappears after selling $300,000 worth of ill-obtained PRL tokens Elmaani began promoting his crypto project called Pearl between September an...

Controversial former world kickboxing champion and social media influencer Andrew Tate could see an estimated $560,000 in Crypto seize d by Romania n authorities after he was formally indicted on rape and trafficking charges. Tate was arrested in Romania in December and remained in jail and under house arrest while under investigation. However, as detailed in a press release issued on Tuesday by the country’s Directorate for the Investigation of Organized Crime and Terrorism, he has now been officially charged. Following this development, prosecutors have requested to seize assets and funds, including 15 high-end cars, 15 properties, a number of watches, and 21 bitcoin. It was initially reported that police had seized somewhere in the region of $380 million worth of bitcoin, but this turned out to be an error caused by a misunderstanding with Google Translate. As reported by the BBC, Tate’s brother Tristan and two other associates have also been indicted on the same charges . ...