Indian authorities detained Lithuanian citizen Aleksej Besciokov on charges of money laundering and breaching international sanctions through the Russian cryptocurrency exchange Garantex.
Details of the Arrest
Aleksej Besciokov was detained in India in a joint operation by the Central Bureau of Investigation (CBI) and Kerala Police. The US Department of Justice claims the arrest occurred as Besciokov attempted to flee the country. The US accuses him of managing Garantex, which faced sanctions in 2022 for handling cryptocurrency transactions linked to cybercriminals, terrorists, and drug trafficking.
Charges and Implications
Besciokov faces charges of conspiracy to launder money, potentially resulting in a 20-year sentence, violating the International Emergency Economic Powers Act, and operating an unlicensed money-transmitting business. As part of the operation, the US Department of Justice also seized domain names associated with Garantex and froze $26 million in related funds.
US Position and Next Steps
Following a US request, Indian authorities acted promptly, with the Ministry of External Affairs obtaining a temporary arrest warrant from a Delhi court. Besciokov is expected to appear before the Patiala House Court for extradition hearings soon. Although the timeline is uncertain, officials anticipate an expedited process due to the severity of the charges.
The arrest of Aleksej Besciokov marks a significant step in international efforts to combat illegal crypto activities. Authorities continue to work on preventing such crimes globally.
