In a major international operation, the Central Bureau of Investigation (CBI) and Kerala Police have arrested Aleksej Besciokov, a Lithuanian national wanted by US authorities for his alleged role in a multi-billion-dollar cryptocurrency fraud and money laundering scheme. Besciokov was apprehended in Thiruvananthapuram while allegedly planning to flee the country.
The Case Against Besciokov
The U.S. Secret Service, in its indictment, has accused Besciokov and his co-conspirator, Russian national Aleksandr Mira Serda, of operating Garantex, a cryptocurrency exchange that reportedly laundered illicit funds for transnational criminal organizations, terrorist groups, and cybercriminals.
Since its launch in April 2019, Garantex is believed to have processed at least $96 billion in cryptocurrency transactions, including hundreds of millions linked to hacking, ransomware, drug trafficking, and terrorism.
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As the primary technical administrator of Garantex, Besciokov played a crucial role in maintaining the exchange’s infrastructure and overseeing high-risk transactions. The US indictment also states that he conspired to violate economic sanctions and operate an unlicensed money transmission business, both of which are federal offenses.
Coordinated Action by CBI and Kerala Police
The US authorities had submitted a formal request to trace and arrest Besciokov. Acting on this, India’s Ministry of External Affairs (MEA) secured a Provisional Arrest Warrant against him from Patiala House Court, Delhi, on March 10, under the Extradition Act, 1962.
The CBI’s International Police Cooperation Unit (IPCU) then coordinated with Kerala Police, leading to his swift arrest. A CBI spokesperson confirmed, “In a coordinated action with IPCU, Kerala Police arrested wanted fugitive Aleksej Besciokov, who was attempting to escape from India.”
Besciokov will be produced before Patiala House Court, where extradition proceedings will commence.
Potential Penalties
If convicted, Besciokov faces:
- 20 years in prison for conspiracy to commit money laundering
- 20 years in prison for conspiracy to violate the US International Emergency Economic Powers Act
- 5 years in prison for conspiracy to operate an unlicensed money transmission business
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Global Crackdown on Crypto Crimes
This high-profile arrest comes amid increased global efforts to dismantle illicit cryptocurrency networks. The US has been actively pursuing crypto platforms linked to criminal activities, and India’s role in assisting with international law enforcement underscores its commitment to tackling cyber-enabled financial crimes.
As the crypto landscape evolves, authorities worldwide continue to tighten regulations and enhance cross-border cooperation to prevent digital currencies from being exploited by criminals.