A case combining more than 300 criminal cases related to the activity of the Finiko financial pyramid was investigated against the former head of the Ministry of Telecom and Mass Communication Nikolai Nikiforov, TASS reports with reference to the investigation materials.
According to the researchers, Nikiforov was one of the creators of Piniko, which promised investors a return of up to 25% per year. About 8 thousand people were recognized as victims, the total damage is estimated at about 5 billion rubles.
The former minister was accused of creating a criminal community and especially a large-scale fraud. In September he was put on the wanted list and arrested in absentia. Nikiforov headed the Ministry of Telecom and Mass Communication from 2012 to 2018.