Charges Against BTC-e founder for Fraud has been Dropped by Cyprus Court

Charges Against BTC-e founder for Fraud has been Dropped by Cyprus Court

News
November 29, 2018 by Sandra Onyeiwu
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The lawsuit in opposition to alleged Btc-e operator Alexander Vinnik for “fraud, cash laundering, and different grave crimes” filed in Cyprus has reportedly been dropped. Vinnik allegedly operated the now-defunct Cyprus-registered cryptocurrency exchange Btc-e. His lawyer Timofei Musatov wrote in a press release sent to the news outlet: A court session of the Limassol District
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The lawsuit in opposition to alleged Btc-e operator Alexander Vinnik for “fraud, cash laundering, and different grave crimes” filed in Cyprus has reportedly been dropped.

Vinnik allegedly operated the now-defunct Cyprus-registered cryptocurrency exchange Btc-e. His lawyer Timofei Musatov wrote in a press release sent to the news outlet:

A court session of the Limassol District Court was held on November 27, 2018, where the plaintiffs withdrew the action to accuse Alexander Vinnik of fraud, money laundering, and other grave crimes.

Expressing his satisfaction with the court’s decision, Musatov said that the  district court of Limassol city has formally granted the plaintiffs’ petition to recall their lawsuit against Vinnik and even ruled “to compensate the defendant for all legal costs incurred by him.” Adding:

“The case against Alexander collapsed at an early stage and, importantly, at the initiative of the plaintiffs themselves, which clearly indicates the weakness of the accusatory component against Alexander, the vulnerability of the legal position of the plaintiffs and their unwillingness to bring the case to open legal proceedings.”

Meanwhile, this withdrawal does not mean that the case against Vinnik has been closed. Greece is now considering an appeal for France’s request for the extradition of Vinnik, a Russian citizen. The next court session is scheduled Nov. 29, RIA Novosti reports.

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