Crypto Mania

Oyster Protocol Founder Sentenced to Four Years for Tax Evasion!

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Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Amir Bruno Elmaani, the founder of the cryptocurrency scheme Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani, also known as Bruno Block, admitted secretly minting and selling Pearl tokens and not paying income tax on profits from the project. Elmaani claims to have caused tax losses of over $5.5 million. He marketed Pearl as a way for investors to purchase data on the Oyster Protocol. However, Elmaani secretly minted new PRL tokens and dumped them on the market for his own gain. Elmaani spent more than $10 million on multiple yachts, two homes, precious metals, and carbon-fiber composites in 2018, according to the court.

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