A former Holograph Foundation employee has been sentenced to five years in prison by the Paris Criminal Court, with two years imprisonment and three years conditionally suspended. The court found that in 2024, the man illegally generated 1 billion HLG tokens, worth approximately $14 million at the time, by modifying the token minting conditions. He then transferred the tokens to his personal wallet and, with two accomplices, transferred the funds through multiple cryptocurrency exchange accounts. The two accomplices were sentenced to two years in prison (14 months suspended) and fined €80,000 and two years suspended and fined €40,000, respectively. The main defendant was convicted of crimes including damaging automated data processing systems, organized fraud, money laundering, and participation in a criminal gang. The court also rejected Holograph Foundation's claim for damages due to the decline in token price, finding no evidence that the price drop was directly caused by the fraudulent activity. (TV5MONDE) https://(wublock123.com)/news/former-employee-of-holograph-in-france-sentenced-to-five-years-in-prison-for-illegally-issuing-1-billion-hlg-tokens-including-two-years-of-actual-imprisonment-71543