Coinflux Cryptocurrency Exchange Founder Extradited to the U.S. for Money Laundering
Nistor Vlad Călin, the CEO of the cryptocurrency exchange Coinflux, has been extradited to the U.S. by Romania’s supreme court for a case of money laundering on his platform, reports Mediafax on January 4, 2018.
U.S. Secret Service Files Charges Against CoinFlux’s CEO
Per sources close to the matter, Nistor Vlad Călin, a 29-year-old businessman was charged by the U.S. secret service in December 2018 for aiding the money laundering operation carried out by a group of Romanians via the Coinflux exchange.
The CEO was reportedly a part of those who scammed U.S. citizens using the exchange as a channel. It is alleged that fiat dollars were unlawfully acquired from these people, converted into bitcoin and the country’s currency, before being transferred to bank accounts in Romania.
On the basis of this crime, the CEO was charged to court but was later released with an instruction not to leave the country.
However, the High Court of Cassation and Justice, Romania’s supreme court, has reverted his appeal and handed him over to the U.S.
Romanian Court Extradites Vlad Călin to the U.S. Authorities
Consequently, the entrepreneur will now have to face the full charges levied against him by the U.S. since Romania no longer has jurisdiction over the matter.
Interestingly, Nistor Vlad Călin has made comments about the development, and according to him, he has been in the financial market for the past seven years before setting up his exchange.
Since the platform’s inception, roughly 200,000 transactions have been made. Călin also added that he had no control over the nature of businesses conducted on Coinflux by the scammers, and as such, there was no way he could have been aware of any shady dealings.
Anatol Pânzaru, the lawyer of the accused, spoke in his defense saying that the conditions for the establishment of a judicial agreement between the U.S. and Romania have not been met before the transfer of his client to another country.
Therefore, the legal representative at that time proposed that the supreme court reject the American extradition request since the crime did not apply when it comes to the Romanian law.
It’s worth noting that Nistor Vlad Călin’s case is similar to BTCManager’s report on July 17, 2018, of Alexander Vinnik, the founder of BTC-e cryptocurrency exchange, who was deported to France on the grounds of money laundering and other fraudulent activities.
In related news, on June 20, 2018, BTCManager informed that Silk Road adviser, Roger Thomas Clark, had been extradited to the U.S. for using cryptos for unlawful purposes.