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Saitama CEO Faces Extradition Over $7.5B Token Manipulation Charges

Guavy AI Editorial Team
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Saitama CEO Manpreet Kohli has lost his challenge against extradition to the United States, where he faces charges of wire fraud and cryptocurrency market manipulation tied to a token once valued at $7.5 billion.

US prosecutors allege that Kohli made about $20 million while Saitama promoters publicly claimed to hold or buy tokens as they privately sold them.

The case formed part of a US crypto manipulation crackdown, including the creation of NexFundAI by the FBI to investigate wash trading and fake trading volume.

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