Garantex broke sanctions and enabled multinational criminal organizations to launder at least $96 billion in bitcoin transactions
Delhi, New Delhi:According to officials on Wednesday, a Lithuanian man who was wanted in the US for a significant bitcoin scam has been taken into custody in Kerala. Aleksej Besciokov, the accused, reportedly established the cryptocurrency exchange “Garantex” in order to launder the proceeds of illegal activities like ransomware, computer hacking, and drug sales.
According to authorities, Besciokov was detained as he prepared to leave the nation.
According to documents from the US Secret Service, Besciokov allegedly owned and ran Garantex for almost six years, facilitating cryptocurrency transactions by transnational criminal organizations, including terrorist organizations, that resulted in money laundering of at least $96 billion (more than Rs 8 lakh crore) and sanctions violations.
According to the report, Garantex received hundreds of millions in illicit earnings and was used to support a number of crimes, including as drug trafficking, terrorism, ransomware, and hacking, frequently with a significant negative impact on US victims.
According to officials, Besciokov was Garantex’s principal technical administrator and was in charge of acquiring and maintaining the platform’s vital infrastructure in addition to examining and authorizing transactions. The United States sought him on a number of accusations, including conspiracy to operate an unauthorized money services business, conspiracy to violate the US International Emergency Economic Powers Act, and conspiracy to commit money laundering in violation of Title 18 of the US Code.
In April 2022, the United States imposed sanctions on him.
At the request of U.S. officials, the Ministry of External Affairs was issued a temporary arrest warrant earlier this week. After that, Besciokov was taken into custody by the Central Bureau of Investigation (CBI) and the Kerala police in Thiruvananthapuram, Kerala
FAQ
Aleksej Besciokov is a Lithuanian national wanted in the US for running the cryptocurrency exchange “Garantex,” which was allegedly used to launder illicit funds. He was arrested in Kerala as he attempted to leave India, following a request from US authorities.
He is accused of facilitating at least $96 billion in money laundering through Garantex, violating US sanctions, and enabling criminal organizations to conduct illegal activities such as ransomware attacks, drug sales, and hacking
Garantex, the cryptocurrency exchange founded by Besciokov, reportedly processed illicit transactions for transnational criminal organizations, including terrorist groups. It allowed them to move large sums of money without detection, violating international financial regulations.
The US imposed sanctions on him in April 2022. He faces charges including conspiracy to operate an unauthorized money services business, conspiracy to violate the US International Emergency Economic Powers Act, and conspiracy to commit money laundering
The Central Bureau of Investigation (CBI) and Kerala police arrested Besciokov in Thiruvananthapuram based on a temporary arrest warrant issued by the Ministry of External Affairs at the request of US officials
