Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme
A British judge rejected former Saitama CEO Manpreet Kohli’s attempt to block extradition to the U.S., where he faces charges in an alleged crypto market-manipulation scheme. Judge Samuel Goozee sent the case to the U.K. government for an extradition decision, though Kohli can still appeal and remains free on bail. U.S. prosecutors accuse him of wire fraud, market manipulation, conspiracy, and running an unlicensed money-transmitting business tied to Saitama, an Ethereum token that at one point reportedly reached a $7.5 billion market cap. Kohli argued extradition was unsafe because of mental health and suicide risks, but the judge said safeguards in transit and U.S. custody were sufficient. The ruling follows a Boston decision that kept the indictment intact after Kohli argued Saitama was not a security. The case is part of the DOJ’s “Operation Token Mirrors,” which alleges coordinated wash trading and token dumping by multiple defendants.
