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Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case

Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case

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Serbian National Arrested and Extradited to the US for His Role in a $70M Crypto Mining Case

A Serb has been extradited to the United States to face trial for allegedly extorting more than $70 million from investors. The company was awarded $1.5 billion for cryptocurrency and binary options fraud. Antony Stojilkovic, 32, and six co-defendants arrested between July and October 2020 risk up to 20 years in prison if convicted.

Incorrect profiles

According to a statement from the US Department of Justice (DOJ), Stojilkovic was abducted from his home country after he was pronounced dead at 24. July 2020 had filed a motion for preliminary arrest. The statement also states that the relocation of Serbia to the Northern District of Texas will be completed on 4. February 2021.

Along with six co-conspirators, Stojilkovic is accused of targeting investors around the world – including some in North Texas – by soliciting investments in binary options and mining crypto-currencies. According to the DOJ, the defendants, who used their bases in China and Serbia, orchestrated the fraud through more than 20 fraudulent investment platforms and fake profiles.

Moreover, as the DOJ’s statement explains, Stoilkovic and his fellow participants tout their binary options platform as the world’s leading binary options marketplace. Defendant also claimed to be a world leader in binary options with an average return of 80% and promised a 20% return on each losing transaction.

As for mining cryptocurrency, the Justice Department says:

At the same time, investors on cryptocurrency mining platforms claimed they could buy bitcoins for half the market price because mining was going on around the clock at facilities around the world.

No transaction was executed

Meanwhile, Stoilkovich and his co-defendants falsified trading activity, withdrawal history, and bank records to sell the fraud to unsuspecting investors. Nevertheless, the investigators determined that there was no illegal trade. Instead, investors’ funds were used to cover defendants’ personal expenses, pay commissions, and further develop the system.

At the same time, US officials say Stojilkovic’s arrest and extradition demonstrate the ability of law enforcement agencies to investigate and dismantle these complex constructs.

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