As previously reported in December, Nistor Vlad Călin was arrested by Romanian law enforcement officials and Secret Service agents in Cluj at the request of the US authorities committed to the territory of the United States. The founder of the exchange has been accused of a number of organized crimes, including money laundering and fraud, allegedly conducted through his cryptocurrency exchange.
Bucharest Court of Appeal released Vlad Nistor soon after that time. But the court did not permit him to leave the city. Nistor appealed to the Judiciary Committee against the US extradition request, but his appeal was struck down on December 20.
The High Court of Cassation and Justice, Romania’s supreme legal authority, has maintained the choice by the lower instance. They also requested Nistor’s transfer into U.S. authority. Nistor is needed for his support in wrongdoings committed by other Romanian nationals. Utilizing Coinflux, the group allegedly laundered cash from their criminal activities, which included duping U.S. residents.
Defendant Lawyer’s Argument
Defendant Lawyer Anatol Panzaru declared that the conditions of judicial cooperation between Romania and the United States were not met. He also demanded that the court reject the extradition request.
Anatol Panzaru explained that the scammers actually involved in the crime had initially exchanged their proceeds to Bitcoin in the US and that’s where the actual money laundering occurred. Then other people converted the coins back to fiat currency through Coinflux, without Nistor having any hand in the process.
Vlad Nistor said he established the trading platform after working for seven years in the financial sector. Vlas Nistor said this in one of his statements.
“When you try to grow a business, you don’t think of committing crimes, because the value of that business is diminished.”
-Stated the 29-year-old Coinflux owner
Nistor Vlad Călin found Coinflux in 2015. The digital trading platform has traded over $229 million since processing more than 203,000 transactions, according to the company’s records. Last year it also had a substantial turnover and made more than 30,000 transactions. A warning on its website now reads, “Trading disabled, bank account frozen.”