Manpreet Kohli is a step closer to facing trial in Boston. The latest development in his extradition proceedings puts him nearer to a court case over accusations that he made $20 million through a scheme to manipulate the Saitama token.
The case centers on the token's value. Kohli is accused of profiting from a trading scheme that artificially moved the token's price. The exact mechanics haven't been laid out in the public record, but the sum at stake is clear.
The alleged profit
Kohli is accused of making $20 million from the manipulation. That amount defines the accusation. The Saitama token, the asset at the heart of the matter, is what the scheme allegedly targeted.
The accusation doesn't detail the method. It only states the outcome: a $20 million gain from an alleged manipulation of the token. The case is now moving forward through the extradition process.
Progress toward trial
The extradition proceedings have taken a step forward. Kohli is now closer to facing trial in Boston. The exact stage of the process isn't specified, but the development signals that the case is advancing.
No trial date has been announced. The next stage in the extradition case will determine when the trial can begin. Until then, the case remains in progress.
