The United States of America is ready to return cybercrime tycoon Alexander Vinnik to Russia as a part of a swap for American school teacher Marc Fogel. Alexander Vinnik was arrested in 2017 for allegedly laundering billions of dollars using the digital currency Bitcoin. Vinnik pleaded guilty to the charges and has been facing a 20-year sentence in prison. Marc Fogel has been detained for more than three years in Russia, and he got a warm welcome from US President Donald Trump on Tuesday night.
Bitcoin Fraud Suspect Alexander Vinnik is Set to be Released by The US
The United States of America has decided to release Alexander Vinnik, the prime suspect in a major money laundering scam that involved a cryptocurrency exchange BTC-e. The accused money launderer is being released in exchange for Marc Fogel who has been a Russian detainee for three years. Alexander Vinnik was arrested in 2017 for allegedly laundering billions of dollars using Bitcoin.
He was arrested in Greece and extradited to France and the United States in 2017 and 2022 respectively. He was transferred to the US as per the request of the US administration which reckoned he was responsible for laundering around $4 billion through BTC-e. He pleaded guilty to the charges and has been facing a 20-year sentence in prison.
BTC-e was used to laundering and transfer money involved in illegal activities like cyber crimes and drug sales. Vinnik used the platform to promote these kinds of activities and was reportedly responsible for the loss of around $121M. BTC-e reportedly assisted over $9 billion in worldwide transactions and was a major channel to flow the illegal money.
Vinnik’s lawyers, Arkady Bukh & Associates, stated that at that moment, they could confirm that a hearing had recently been held in the Federal Court of the State of Florida regarding Mr. Vinnik. However, they noted that due to the judge’s decision, the materials of the hearing were classified, and they could not comment on its course and content.
As per the swap deal, Vinnik is on the verge of forfeiting $100 million of his illegal and criminal proceeds. White House press secretary Karoline Leavitt stated that, as part of the exchange, he had forfeited more than $100 million that he had obtained from that illegal crime. She added that, in exchange, they had received Marc Fogel, a middle school teacher who had kissed the American soil upon his return to the United States the previous night. She described it as a great deal and a great day for their country.
Unjustifiably Detained American Teacher Touched the US Soil After Three Years!
Marc Fogel, an American school teacher who had been detained for over three years in Russia got a warm welcome by the newly elected US President Donald Trump on Tuesday night. Fogel arrived at the White House mantled in American Flag. The Fogel family expressed that they were beyond grateful, relieved, and overwhelmed that after more than three years of detention, their father, husband, and son, Marc Fogel, was finally coming home.
They noted that it had been the darkest and most painful period of their lives, but that day, they would begin to heal. Fogel thanked everyone and expressed his love for the country, stating that he was very happy to be back there. He added that he wished he could articulate his feelings better. Donald Trump greeted him that it was an honor to have played a small role in his release from Russia. Donald Trump never failed to mention Vladimir Putin for his effort in releasing Fogel.
Will Fogel Swap Facilitate Future One-for-one Exchange?
Trump was optimistic about the incident and believed this would soon end the Russian war with Ukraine. Donald Trump stated that there was goodwill in terms of the war and mentioned that Marc Fogel could actually be a significant part of it, as it could play an important role in resolving the conflict with Ukraine. He expressed appreciation for President Putin, noting that he was able to accomplish that for Fogel.
Trump has confirmed that there are still many Americans detained in Russia and another American is anticipated to be released in the upcoming days. Fogel’s release would not play a crucial role in direct one-for-one exchange with Russian detainees. Adam Boehler, the United States Envoy for Hostages, stated that they wouldn’t see an exchange taking place at that moment. He thought that the president would give consideration if there were some nonviolent individuals involved where there might not be any issues either way, but he emphasized that a one-for-one exchange wouldn’t be happening simultaneously.
