Alexander Vinnik Pleads Guilty to $9 Billion Laundering Scheme
Alexander Vinnik, co-founder of the cryptocurrency exchange BTC-e, has admitted to laundering $9 billion, according to lawyer Arkady Bukh. After long negotiations, Vinnik agreed to the guilty plea deal to reduce the risk of a life sentence.
Vinnik, who has been in custody since 2017, is likely to receive a prison term of less than ten years. The final decision on his case will be announced in the upcoming months.
His lawyer stated that the guilty plea deal was a successful outcome, despite prosecutors pushing for a trial and longer prison time. Negotiations on the deal have been ongoing for years, with Vinnik’s defense initially hoping to avoid a trial altogether.
Arrested in Greece in 2017 at the behest of the US, Vinnik was accused of laundering massive amounts through BTC-e. By admitting guilt, Vinnik avoids the potential of a 100+ year sentence.
Vinnik remains in custody as his fate awaits final sentencing in the next few months.
