Judgments have been made

“Vacation at state expense” for the gang of snobs

The courtroom was well filled when the verdict was announced.(Bild: Kerstin Wassermann)

The crypto fraudsters from EXW have kept the judiciary in Klagenfurt busy for over a year. Now the first (not legally binding) sentences have been handed down to the gang, but the case is likely to go into the next round.

"Anyone who causes damage in excess of 300,000 euros through the offense shall be punished with a prison sentence of one to ten years." This is the paragraph in the German Criminal Code that has now become a hit for the EXW fraudsters. The scammers easily broke the 300,000 euro barrier with their crypto card house.

Five guilty verdicts, five acquittals
However, Judge Claudia Bandion-Ortner and her two lay assessors did not make full use of the sentencing range: five years in prison for the two main perpetrators H. and T., three further prison sentences (18 months conditional as the lower limit). Five defendants were acquitted.

The sentences were for serious commercial fraud and forming a criminal organization. "A cult-like Ponzi scheme was launched for EXW in order to appeal to investors who were not crypto-savvy - investors were blinded for so long that they did not realize that they had been taken in by a large-scale fraud," explained Judge Bandion-Ortner in the grounds for the verdict.