Kohli, founder of Saitama, is facing extradition to the United States

According to Reuters, the founder of Saitama, Manpreet Kohli, lost his case last week in the United Kingdom and faced extradition to the United States for trial on charges of telecommunications fraud and market manipulation. Kohli was arrested in London in 2024 and accused by the United States prosecution of falsely claiming possession and purchase of the Saitama coin with more than a dozen accomplices, while selling it privately for approximately $20 million, which at one time was worth $7.5 billion. Judge Samuel Goozee rejected his application against extradition on 19 August and referred the case to the British Minister for a decision on whether to order extradition. Kohli is currently on bail with Pound200,000 and is still subject to appeal. Previously, the Boston Federal Judge had dismissed his motion for annulment on the ground that the Saitama token did not constitute securities。