Update: Coinflux founder to be extradited to the US

05 Jan, 2019
by David Robb
Update
Update: Coinflux founder to be extradited to the US

The Supreme Court has decided that the founder and CEO of Romanian crypto exchange Conflux will be extradited to the U.S. Nistor Vlad Călin was arrested last year on suspicion of money laundering and fraud.

Read more: Update: Details on the arrest and alleged crimes of Vlad Nistor, CoinFlux's CEO

Launched in 2015, Coinflux has traded over 200 million Euros worth of crypto, and saw more than 30,000 transactions in the last year. Its CEO and founder was first arrested back in December 2018.

Nistor is accused of being involved with a group of US-based Romanians who committed a series of frauds and scams, then laundered their money through the trading platform, exchanging the dollar amounts for Bitcoin.

Mediafax reports that Nistor is denying any knowledge of the criminal origin of the funds that were processed by Coinflux, claiming that when "you try to grow a business you do not think you commit crimes, because the value of that business is diminished". His lawyer is attempting to block the extradition request. He insists that the offenses of the criminal gang, conducted in the U.S., have no correspondent in Romanian law, and that Nistor's business activities were solely carried out in Romania.

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