Blogger Detained in Moscow on Fraud Charges Tied to Forex Scheme
An online blogger known as Azat Bayburin was placed in detention in Moscow’s detention center No. 7 ahead of a court hearing. The information came from the press service of the capital city’s prosecutor’s office, which confirmed the status of the case and the ongoing investigative steps.
Local media outlet Shot Telegram channel reported that Bayburin is under investigation on suspicions of defrauding investors in a scheme valued at 500 million rubles. The report highlighted that the suspected fraud involves the manipulation of funds collected from followers and participants who expected guidance and opportunities in the foreign exchange market.
Official statements from the prosecutor indicate that Bayburin faces 29 charges of fraud carried out by an organized group. The charges fall under part 4 of article 159 of the Criminal Code of the Russian Federation, addressing large scale fraud and criminal activity conducted by a coordinated network. The legal action marks a significant step in the investigation as authorities pursue accountability for the alleged victims and the broader financial impact of the scheme.
In its official communication, the supervisory authority noted that a court decided to impose preventive measures on the suspect in absentia, while Bayburin was publicly listed as wanted. The latest update from the supervisory body stated that Bayburin was detained the day before the announcement, confirming a shift from a search status to custody within the legal process.
According to prosecutors, Bayburin and his associates, acting on behalf of controlled legal entities including TsTI Rost Capital LLC, promised investors that participation in their program would open doors to employment in the foreign exchange market. The plan was presented as a path to lucrative gains and a high return on investment, including access to financial literacy courses and related training that supposedly would lead to profitable trading activity.
Investigators contend that Bayburin collected contact details from his customers through accomplices and provided false information about the necessity of opening and filling brokerage accounts to enable Forex transactions. The narrative was designed to create a convincing facade of legitimate training and mentorship, masking the transfer of funds to accounts controlled by the criminal network. The deception aimed to build trust and recruit additional participants into the scheme.
At least 29 individuals are reported as victims of the actions attributed to Bayburin and his associates. Prosecutors place the total damages at over 25.6 million rubles, a figure that underscores the scale of the alleged fraud and the impact on ordinary investors. The case remains under active investigation as authorities continue gathering evidence and pursuing charges related to the organized operation.
Prior reports indicated that the Supreme Court had considerations related to the detention of another blogger, Elena Blinovskaya, who faced separate legal processes. The current proceedings surrounding Bayburin reflect ongoing scrutiny of online figures who leverage social media to influence financial decisions and market participation. The investigation illustrates how authorities monitor and respond to cases where public figures potentially mislead audiences into engaging with high-risk financial activities. The evolving case continues to attract attention from both legal observers and participants in online investment communities, who seek clarity about the nature of the alleged misconduct and the protections available to investors.