Lithuanian Man, Wanted in US for Cryptocurrency Fraud, Arrested in Kerala

A shocking turn of events has led to the arrest of a Lithuanian national wanted by the United States for his alleged involvement in a massive cryptocurrency fraud. Aleksej Besciokov, the mastermind behind the fraudulent operations, was apprehended in Kerala, India, as he attempted to flee the country.

Besciokov, 39, had been evading law enforcement for years, but his plans were foiled when he was caught by a joint operation between the Central Bureau of Investigation (CBI) and the Kerala police. The arrested individual is accused of setting up a cryptocurrency exchange called 'Garantex', which allegedly facilitated money laundering to the tune of at least $96 billion in cryptocurrency transactions.

According to US Secret Service documents, Besciokov controlled and operated Garantex for nearly six years, using it as a conduit for transnational criminal organisations to launder their ill-gotten gains. These organisations included terrorist groups and entities involved in ransomware, computer hacking, and narcotics transactions.

"Garantex received hundreds of millions in criminal proceeds and was used to facilitate various crimes, including hacking, ransomware, terrorism, and drug trafficking, often with substantial impact to US victims," the documents stated. Besciokov was wanted by the US on multiple charges, including conspiracy to commit money laundering in violation of Title 18 of the US Code, conspiracy to violate the US International Emergency Economic Powers Act, and Conspiracy to operate an unlicensed money services business.

Furthermore, Besciokov was sanctioned by the US in April 2022. Following this, the Ministry of External Affairs received a provisional arrest warrant at the request of US officials. The authorities were able to track him down through intelligence gathering, and a joint operation between the CBI and Kerala police led to his arrest from Thiruvananthapuram.

Besciokov will now be produced before the Patiala House Court soon, marking a significant development in the case. His arrest is a testament to the collaborative efforts of international law enforcement agencies and highlights the growing importance of tackling cryptocurrency-related crimes worldwide.