Five individuals were convicted of participating in a $21.6 million fraud scheme, with stolen funds used for a lavish lifestyle that included private jets, sex services, and even a shark aquarium. The fraudsters attracted about 40,000 investors, promoting schemes with the EXW wallet and EXW token, according to the Austrian outlet Heute on October 23.
In the Klagenfurt court, where the trial lasted two months, two received five-year sentences, two received 30-month sentences, and one received an 18-month sentence. The judge noted that the defendants spent the stolen money on elite clubs and vacations in Dubai and Bali, including the shark aquarium.
The funds were transported to Austria in plastic bags. In September 2023, the prosecution charged eight suspects, although some accused individuals are still at large.
