Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme
In briefA UK judge rejected Manpreet Kohlis extradition challenge and sent the case to British ministers.Prosecutors allege Saitama executives used coordinated purchases and paid market makers to inflate the tokens 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 Kohlis bid to avoid extradition to the United States, where he faces charges tied to an alleged crypto market-manipulation scheme. According to a report by Reuters, Judge Samuel Goozee rejected Kohlis challenge on August 19 and sent the case to the U.K. government for a decision on the U.S. extradition request. Kohli can appeal the ruling, so his extradition is not yet final, and he remains free on £200,000, about $272,400, bail. Myriad: Will Congress pass the Clarity Act? Click to make your prediction. U.S. prosecutors have charged Kohli with wire fraud, market manipulation, related conspiracy offenses, and operating an unlicensed money-transmitting business. The charges concern Saitama, an Ethereum-based token that once reached a reported market capitalization of $7.5 billion. Kohli challenged extradition in part by arguing that U.S. authorities could not adequately address his mental health and risk of suicide in custody. Judge Goozee found that safeguards during his transfer and