Saitama CEO Faces Extradition to US Amid Fraud Allegations
The British-based chief executive of Saitama, Manpreet Kohli, is facing extradition from the UK to the US after losing his fight against it last week.
Kohli, a 45-year-old Indian national, led Saitama, which promoted a token on the ethereum blockchain that had a market value of $7.5 billion at one point.
He was arrested in London in 2024 after US prosecutors accused him and over a dozen others of engaging in widespread fraud, including allegedly claiming to hold and purchase Saitama tokens while privately selling them for millions of dollars in profit. Kohli is said to have made around $20 million.
Judge Samuel Goozee rejected Kohli's challenge on August 19, stating that there are 'clearly appropriate arrangements' in place to prevent him taking his own life in custody and reduce the risk of suicide to an acceptable level.