Binance News: Garantex Co-Founder Arrested in India Amid International Crackdown

In a significant development in the ongoing international crackdown on cryptocurrency exchanges, the co-founder of controversial Russian exchange Garantex has been arrested in India.

Garantex Co-Founder Arrested in India During Family Holiday

Aleksej Besciokov, co-founder of the controversial Russian cryptocurrency exchange Garantex, was arrested in Varkala, India while on a family holiday. The arrest was made under India’s extradition laws. The U.S. Department of Justice had previously unsealed an indictment against Besciokov and his co-founder, Aleksandr Mira Serda, in an escalating international crackdown on Garantex.

Indian Authorities Arrest Garantex Co-Founder for Alleged Money Laundering

Indian authorities have arrested Aleksej Besciokov, co-founder of cryptocurrency exchange Garantex, in Kerala at the request of the US. Besciokov has been indicted by the US Department of Justice (DOJ) for facilitating money laundering and violating US sanctions. The DOJ also accused another co-founder, Aleksandr Mira Serda, and the exchange of operating an unlicensed money transfer business. The US will seek Besciokov’s extradition to the Eastern District of Virginia for trial.