New Court Ruling Overturns Extradition Approval
A circuit court in Estonia has canceled the previous ruling that allowed the extradition of two Estonian citizens charged with cryptocurrency fraud and money laundering to the United States. The court determined that the Estonian government did not consider certain circumstances before agreeing to extradite the individuals involved in the case.
Suspects Involved in Cryptocurrency Fraud
Ivan Turogin and Sergei Potapenko, who operated a virtual currency mining business called HashFlare, had their appeals to prevent extradition approved by the Tallinn Circuit Court. The court annulled the extradition because the government did not conduct investigations or verify the conditions of the US detention facility.
Turogin and Potapenko were arrested in Estonia for allegedly running a fraudulent crypto service that resulted in a loss of $575 million for users. They are accused of operating a Ponzi scheme, defrauding hundreds of thousands of victims between 2015 and 2019.
Suspects to Receive Reimbursement
As a result of their arrest, the US government sought to extradite Turogin and Potapenko to the United States. However, the latest court ruling may prevent their handover. The circuit court also fined the Estonian government and ordered reimbursements for Turogin’s and Potapenko’s expenses as well as their families.
Hot Take: Extradition Cancelled for Estonian Citizens Accused of Cryptocurrency Fraud
A circuit court in Estonia has overturned a previous ruling allowing the extradition of two Estonian citizens charged with cryptocurrency fraud and money laundering to the United States. The court determined that important circumstances were not considered by the Estonian government before agreeing to extradite the individuals involved. Ivan Turogin and Sergei Potapenko, who operated a virtual currency mining business called HashFlare, had their appeals to prevent extradition approved. They are accused of running a Ponzi scheme that defrauded hundreds of thousands of victims. The court’s decision also includes fines for the Estonian government and reimbursements for the suspects and their families.
By
By
By