Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme
In brief A UK judge rejected Manpreet Kohli’s extradition challenge and sent the case to British ministers. Prosecutors allege Saitama executives used coordinated purchases and paid market makers to inflate the token’s activity.
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Key Facts
- Fact 1: Kohli remains free on £200,000 bail and can appeal.
- Fact 2: According to a report by Reuters, Judge Samuel Goozee rejected Kohli’s challenge on August 19 and sent the case to the U.K.
- Fact 3: Kohli can appeal the ruling, so his extradition is not yet final, and he remains free on £200,000, about $272,400, bail.
- Fact 4: The charges concern Saitama, an Ethereum-based token that once reached a reported market capitalization of $7.5 billion.
In brief A UK judge rejected Manpreet Kohli’s extradition challenge and sent the case to British ministers. Prosecutors allege Saitama executives used coordinated purchases and paid market makers to inflate the token’s activity.
Kohli remains free on £200,000 bail and can appeal. He has not been convicted. A British judge has rejected former Saitama CEO Manpreet Kohli’s bid to avoid extradition to the United States, where he faces charges tied to an alleged crypto market-manipulation scheme.
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Original source: Decrypt
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