Russian Crypto Criminal Admits Money Laundering and Fraud

News and Analysis

According to Russian media, the alleged BTC-e mastermind Alexander Vinnik has confessed to charges of fraud and money laundering on May 24, 2018. Reports reveal a signed document details that Vinnik admits to committing financial fraud between 2011-2017 through the now-defunct BTC-e cryptocurrency exchange.

The information on the application was also confirmed by his lawyer, Greek specialist Ilias Spirliadis.

Vinnik was arrested in Greece in July last year at the request of the United States as the government suspected him of fraud for 4 billion USD through the BTC-e exchange for trading bitcoins.

November 2017, the Greek Supreme Court decided to extradite the detainee to the USA, but it was challenged. Similarly, the request for his extradition made by The Russian Prosecutor General’s Office was also refused.

According to the source, the document now submitted to the Office. It was specified that Vinnik admits his frauds committed in the period from 2011 to 2017 which had such consequence as material damage amounting to 750 million roubles (equals to $12,4 million) to Russian citizens. Also, he admitted to money laundering and other fraudulent actions in the sphere of computer information.

The paper is transferred in the Ostankino district of Moscow for a procedural decision, as reported. Spirliadis, in turn, stated that now the Russian Federation can launch a new request for the extradition of its citizen.

Nevertheless, as The CrimeRussia reported Friday, May 25, The Investigative Department of the Ministry of Internal Affairs of Russia does not initiate criminal proceedings on Alexander Vinnik’s statements. RIA Novosti reports this referring to the press service of the department.

It was previously reported that the Greek authorities prevented a murder attempt on Vinnik. The escort of the prisoner was strengthened, and he was transferred to an isolation ward. Vinnik, in turn, suggested that mafia wants to kill him, as he “knows a bit much.”

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