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The founder of a crypto mining company is in Russian custody on fraud charges.
Crypto mining is the business of running specialized computer hardware to validate transactions on a blockchain network and collect digital tokens as payment.
Runets, who founded BitRiver, was reportedly detained in connection with a business deal involving En+, a local conglomerate, that allegedly resulted in $12.5 million in damages.
The allegation in plain terms Fraud, in a business context, means one party deceived another to obtain money or property it was not owed.
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