Multiple news outlets are now reporting a pending extradition for CoinFlux CEO Vlad Nistor.
According to the publications, Nistor has already been retained for the US government after his arrest in Cluj-Napoca on December 11th. This arrest has yet to be confirmed on social media or on CoinFlux’s official blog, though Nistor’s appearance for a radio show was still being promoted as of December 3rd.
Based on one of the many news media websites reporting on Nistor, it seems that his extradition to the US will happen today. Since the original arrest, Vlad Nistor has been held in both Cluj and Bucharest, but the extradition will allow the US to charge him with fraud, computer fraud, and money laundering. The final charge includes a lot of information right now, but the simplest term to describe his other actions is simply racketeering.
Considering the hefty charges, it may interest consumers to know that the three-year old Romanian exchange hasn’t even had enough growth and volume to be found on CoinMarketCap yet. Even though the list goes as far as to list companies with volumes of approximately $10,000, it doesn’t look like CoinFlux has made the cut.
Translated from a local editorial piece, Nistor’s extradition was summarized with a seemingly pessimistic view of how the governments are handling the circumstance. It says,
“Either Romanian Vlad Nistor rushed USSS guest starters yesterday morning, packed him tonight, and today he wants to pack him in the United States. Nobody opposes extradition from the Romanian authorities, even though the Romanian citizen is only in a criminal investigation stage – no one knows why he is accused (yesterday even the defenders had no idea what to build their minimal defense). Well, how about human rights, the right to an equitable judge, the equality of arms, and so on?”
Reports indicate that Nistor is quite familiar with the financial industry in Romania through his family, considering that one of the founders of Banco Transilvania is his father. Banco Transilvania is Romania’s second-largest financial institution, preceded by BCR.
This story is currently still evolving, as many news outlets await further comments from CoinFlux or even the legal representation for Nistor.