A Paris criminal court has sentenced a former Holograph Foundation employee to five years in prison. The case centers on the illegal minting and transfer of 1 billion HLG tokens, valued at approximately $14 million at the time.
The defendant, identified as Vitaliy K., will serve two of those years. The rest is suspended, and he also faces a €600,000 fine.
What the court found
The ruling came down on November 6, 2026, at the Paris tribunal judiciaire. The court found Vitaliy K. guilty on several counts. These included unauthorized access to an automated data processing system, organized fraud, money laundering, and membership in a criminal association.
