Garantex Co-Founder Arrested in India for Money Laundering
Indian authorities have apprehended Aleksej Besciokov, a co-founder of the controversial cryptocurrency exchange Garantex.The arrest took place in Varkala, Kerala, under India’s extradition laws. Besciokov, a Lithuanian citizen, was detained on Tuesday at 4 p.m. local time.
Garantex, a russian crypto exchange, has been under scrutiny for facilitating money laundering. The U.S. and European Union have sanctioned the platform. Besciokov is expected to be transferred to a court in New Delhi on March 14. It’s unclear if his arrest is directly linked to his U.S. indictment, but his extradition status suggests otherwise.
The U.S. Department of Justice recently unsealed an indictment against Besciokov and another alleged co-founder, Aleksandr mira Serda. They are charged with conspiracy to commit money laundering, violating U.S. sanctions, and operating an unlicensed money transmission business. Each charge carries a potential 20-year prison sentence.
Garantex, launched in 2019, was sanctioned by the U.S. Treasury in April 2022 for processing illicit funds linked to hacking, ransomware, terrorism, and drug trafficking. Despite sanctions, the exchange reportedly facilitated over $60 billion in transactions.
International authorities, including the U.S., Germany, and Finland, have seized Garantex’s servers and frozen over $26 million. Besciokov was detained while on vacation in India with his family. He is set to be transferred to Delhi and may face extradition to the U.S. to face charges.
mira Serda, a Russian national living in the UAE, remains at large. The DOJ alleges he managed Garantex’s business operations and assisted in laundering illicit funds.
