Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Russian suspected cybercrime kingpin pleads guilty in US, TASS reports

Published 05/04/2024, 04:14 AM
Updated 05/04/2024, 04:25 AM
© Reuters. FILE PHOTO: Alexander Vinnik, a 38 year old Russian man suspected of running a money laundering operation using bitcoin, is escorted by police officers to a court in Athens, Greece December 13, 2017. REUTERS/Costas Baltas/File Photo

MOSCOW (Reuters) - Alexander Vinnik, a Russian suspected cybercrime kingpin who was arrested in Greece in 2017, convicted of money laundering in France three years later and is now awaiting trial in California, has pleaded partially guilty, TASS news agency cited his lawyer as saying on Saturday.

The lawyer, Arkady Bukh, said that as a result of the plea bargain he now expected Vinnik to get a prison term of less than 10 years.

"He pleaded guilty on a restricted number of charges," TASS quoted Bukh as saying, adding that Vinnik had faced life imprisonment.

"The culmination of the negotiations was a deal with the prosecutor's office. We expect that the prison term will be up to 10 years."

Vinnik, accused of laundering more than $4 billion through the digital currency bitcoin, was arrested in 2017 in Greece at the request of the United States, although Moscow has repeatedly demanded he be returned to Russia.

He was extradited to France from Greece where he was sentenced to five years in prison for money laundering before he was sent back to Greece and then on to the United States in 2022.

The U.S. Department of Justice has said Vinnik "allegedly owned, operated, and administrated BTC-e, a significant cybercrime and online money laundering entity that allowed its users to trade in bitcoin with high levels of anonymity and developed a customer base heavily reliant on criminal activity."

The maximum penalty for the U.S. charges against Vinnik is 55 years in prison, according to the U.S. Department of Justice website.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.