Amir Bruno Elmaani, the founder of Oyster Protocol, has been sentenced to four years in prison for tax evasion. Elmaani, also known as Bruno Block, pleaded guilty to the charges in April. He was accused of offering unregistered initial coin offerings (ICOs), self-minting tokens, and engaging in a pump-and-dump scheme. The US Securities and Exchange Commission (SEC) also filed a separate lawsuit against Elmaani, accusing him of offering unregistered securities and selling millions of Pearl tokens. The Department of Justice (DOJ) charged him with tax evasion related to his firm, Oyster Protocol. Elmaani admitted to secretly minting and selling Pearl tokens and evading income tax on his profits. He filed a false tax return and failed to report or pay taxes on his cryptocurrency proceeds. The court found that Elmaani spent millions of dollars on yachts, homes, and other luxury items. He has been sentenced to four years in prison and has caused a tax loss of over $5.5 million.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Amir Elmaani
Companies	Department of Justice (DOJ), EtherDelta, US Attorney’s Office, US SEC, Oyster Protocol, KuCoin
Currencies	Pearl, PERL.eco, US Dollar
Securities	None