Saitama CEO Manpreet Kohli Faces Extradition to US on Wire Fraud Charges

The chief executive of British-based cryptocurrency company Saitama is facing extradition to the US on charges of wire fraud and market manipulation.

Manpreet Kohli, a 45-year-old Indian national, was arrested in London in 2024 after U.S. prosecutors accused him and more than a dozen others of engaging in widespread fraud following an investigation by the FBI that set up a digital token to ferret out crime.

Kohli allegedly claimed to be holding and purchasing Saitama tokens while privately selling them for millions of dollars in profit, making around $20 million. He remains free on £200,000 bail pending his appeal against extradition.