'An Entrepreneur and a Visionary': US Judge Sentences Ex-Crypto Exchange Founder to Time Served
Anatoly Legkodymov, the Russian founder of cryptocurrency exchange Bitzlato, was sentenced to time served for running an unlicensed money-transmitting business. Prosecutors had sought 48 months; federal guidelines placed him in a range of 70–87 months.
U.S. District Judge Eric Vitaliano explained that under the American Bar Association's "shadow guidelines," Legkodymov had effectively already served a sentence in that range during 18 months of pre-trial detention. Vitaliano called him "clearly an entrepreneur and a visionary," while noting he had "put on very thick blinders" about parts of the business.
Defense counsel described the conditions of his detention at the Metropolitan Detention Center as "caged like an animal in a very bad zoo." As part of the plea, Legkodymov agreed to forfeit $23 million in assets, now held by the French government. He remains in custody under an immigration detainer.