In a largescale international bust, a Serbian man has been extradited from Eastern Europe to face charges in the United States, linked to a staggering $70 million cryptocurrency fraud scheme. The globe-trotting grifter, Kristijan Krstic, 48, is suspected of running an elaborate scam that swindled investors worldwide.
After a game of cat-and-mouse, Krstic was finally nabbed in Batumi, Georgia, and will now face the music in a North Texas court that has been collaborating with the U.S. Attorney from the Eastern District of New York. The extradition comes after a joint operation by U.S. Marshals Service and Georgian authorities, according to a press release by the U.S. Attorney's office in the Northern District of Texas.
The indictment alleges that the accused mastermind Krstic and his posse of alleged fraudsters created over 20 fraudulent investment platforms, deceiving poor investors worldwide. The charges include conspiracy to commit wire fraud and conspiracy to commit money laundering.
In a revealing detail first reported by the Dallas Morning News, these schemers seemingly used fake names, photos, and even set up bogus websites to pull off the massive scam. Investors were roped in with false activity and “a positive return on their investments,” before realizing they'd been had.
Though all might not be gone forever, “some victims lost their entire savings to this scheme and have not been able to financially recover,” said Special Agent in Charge Chad Yarbrough of the FBI Dallas Field Office.
But the long arm of the law stretches even across the coastlines, with investigations ongoing in Los Angeles and Santa Ana. John DeMarr, 55, of Santa Ana, California, already got a five-year sentence for his role in the scheme.
As the wheels of justice turn, Krstic’s trial is now scheduled for Jan. 8. His lawyer, Bill Mateja, told the Dallas Morning News that his client “vehemently denies the charges and looks forward to his day in court.”
