Bruno Block, Founder of Oyster Pearl, Receives Four-Year Prison Sentence – Here’s Why

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By BitcoinWiki News

Key Takeaways:

– Founder of Oyster Protocol, Amir Elmaani, has been sentenced to four years in prison for tax evasion.
– Elmaani admitted to creating and selling Pearl tokens without paying taxes on significant profits.
– His fraudulent activities involved promoting the cryptocurrency Pearl and minting new tokens before selling them on the market without informing others involved in the project.
– Investigations revealed that Elmaani spent millions on luxury items and properties while reporting minimal income to tax authorities.
– He also employed friends and family to receive and transfer cryptocurrency proceeds to evade taxes.
– Elmaani must serve one year of supervised release and pay $5.5 million in restitution.


Amir Elmaani, the founder of Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani admitted to creating and selling Pearl tokens without paying taxes on the profits, causing tax losses exceeding $5.5 million. He also admitted to secretly minting new PRL tokens and selling them on the market. Despite claiming minimal earnings on his tax return, investigations revealed that Elmaani spent millions on luxury items and properties. He was sentenced to four years in prison, one year of supervised release, and ordered to pay $5.5 million in restitution.

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