SEATTLE — After orchestrating a cryptocurrency Ponzi scheme that generated more than $577 million in sales and targeted hundreds of thousands of people around the world, two men from Estonia were sentenced Tuesday in the U.S. District Court for the Western District of Washington, according to the U.S. attorney’s office.

Sergei Potapenko and Ivan Turogin, both Estonian nationals, must each pay a $25,000 fine and complete 360 hours of community service over three years, according to court documents. They’ve already served 16 months in prison.

It is the largest fraud ever prosecuted in the history of this District,” according to a court memorandum filed last week.

The sentencing follows Potapenko and Turogin pleading guilty to wire fraud conspiracy in February, an offense that carries a ma

See Full Page