"A Latvian developer and artist identified as Ilya Borisov are facing up to 12 years in prison after authorities claimed that his non-fungible tokens earnings of €8.7 million are proceeds of money laundering and crime on a large scale.
Through his website dubbed Art is Crime, Borisov detailed how the government had frozen his bank accounts without communicating with him regarding the case.
In the case timeline, the developer who earned the amount from 3,557 NFT releases noted that the case proceedings were launched in February this year, but he was only notified about the matter on May 9. "
Moreover,
"In the case, Borisov had attempted to have the investigator replaced, but the court declined.
Besides the threat of permanently losing his money and serving jail time, Borisov stated that the case has emotionally impacted him, a situation complicated by Russia’s invasion of Ukraine. It had also affected his relationship with other family members with his father passing away before a resolution was found.
As he vowed to keep fighting, Borisov notes that the blockchain had opened endless opportunities for artists to make a living, but they still faced challenges from regulators."
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