Indian Authorities Arrest Garantex Co-Founder Wanted for Money Laundering
Indian authorities have confirmed the arrest of Garantex co-founder Aleksej Besciokov, a Lithuanian national wanted by the US for allegedly laundering billions through the crypto exchange.
Key Details:
- Besciokov was apprehended in Kerala’s coastal town of Varkala while vacationing with his family.
- He is accused of operating an unlicensed money-transmitting business and conspiring to commit money laundering.
- US and European authorities recently seized Garantex and its online operations in a crackdown on alleged money laundering activities.
US Allegations:
US authorities claim that Besciokov played a significant role in the Moscow-based exchange, which was sanctioned by the US Treasury in 2022 for processing illicit transactions linked to ransomware, drug trafficking, and cybercrime.
Arrest and Legal Proceedings:
The arrest followed a provisional warrant issued by the Additional Chief Judicial Magistrate of Patiala House Court in New Delhi. The Central Bureau of Investigation (CBI) and Kerala Police worked together, acting on an Interpol Red Notice issued at the request of US authorities.
B. Gopakumar, deputy superintendent of police in Varkala, stated: “The accused was traced based on intelligence received from Interpol and international law enforcement agencies. He will be remanded for two days in Kerala before being transferred to Delhi for extradition proceedings.”
Global Crackdown on Financial Crimes:
Besciokov’s arrest is part of a broader global crackdown on crypto-linked financial crimes. The US Department of Justice unsealed an indictment against him and his associate, Aleksandr Mira Serda, charging them with various crimes.
Future Proceedings:
Serda remains at large, while Besciokov is expected to be extradited to the US following legal proceedings in India.
Allegations Against Garantex:
Authorities allege that from 2019 to 2025, Garantex handled hundreds of millions of dollars in illicit transactions, including ransomware payments from various criminal groups.
