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On Thursday, Alexander Vinnik was extradited to the United States. Vinnik was deported from Greece to the US custody given his relation with an infamous crypto exchange BTC-e. Extradited Russian citizen alleged to be the co-founder and operator of BTC-e. Now following his hand over to the US, Vinnik is subject to charges in California Northern District Court.
On Friday, the United States Department of Justice announced that the BTC-e operator has already appeared in the San Francisco federal court. Kenneth A. Polite, Jr. – Assistant Attorney General at the Criminal Division department – said it’s been more than five years for legal actions ordered against Vinnik. Finally he was extradited for his alleged involvement in operation BTC-e. The crypto exchange he operated is found to play a notable role in illicit activities and is considered to launder over 4 billion USD worth of funds, he said.
The US Was Not Alone Behind Alexander Vinnik
In summer, 2017, Vinnik was on vacation at Thessaloniki city in Greece. Greece Authorities arrested him because of a US arrest warrant. In January, 2017, American prosecutors brought charges against him including 21 superseding indictments. The United States authorities filed a request to Greece asking for Vinnik’s deportation. However, in December, 2019, he was sent to France in order to fulfill the European arrest warrant obligations.
Following the extradition of Vinnik to France, he was subjected to court proceedings in the country. He was then sentenced to five years imprisonment, finding him accused of money laundering. Additionally, the Russian crypto businessman was also accused of extortion and identity theft. Recently he served pre-trial detention.
Charges Against Vinnik’s BTC-e
Vinnik and his alleged crypto exchange BTC-e were accused of operating in the US as a money service business, without license. The charges also include allegations of conspiracy about committing money laundering. Vinnik is also facing 17 other money laundering as well as two unlawful monetary transactions allegations.
The DOJ mentioned that the crypto exchange platform did not possess any know-your-customer verification system. Additionally, it had no anti-money laundering program following the federal law obligations.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
