Oyster Protocol imprisoned for $5.5m in tax offenses
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...