Georgia extradites to the United States the organizer of a cryptocurrency-laundering scheme

Georgian authorities, at Interpol’s request, extradited to the United States a Serbian citizen, accused of running fraudulent schemes to launder money through cryptocurrencies and binary options.

According to the investigation, the 48-year-old Kristijan Krstic led the large criminal organisation he founded, creating at least 20 fraudulent online investment platforms. Over six years of their activities, hundreds of victims worldwide were harmed, with losses exceeding $70 million.

In addition, Krstic attracted $7 million from American investors through two fraudulent platforms.

The suspect was detained in Batumi on February 3. On 30 October, the extradition process to the United States was completed. Krstic faces 20 years in prison on each count.

Earlier in April 2021, Georgian authorities detained 11 people, suspected of misappropriating funds under the pretext of trading cryptocurrencies. The losses amounted to €620 000.