(2024)
DOJ v. Saitama
Year
2024
Criminal or Civil
Criminal
Year Resolved
Pending (as of 2025)
Jurisdiction (Court/State)
Southern District of Texas (DOJ-led criminal prosecution); international cooperation with U.K. and Vietnam for arrests/extradition
Filed By
U.S. Department of Justice (DOJ)
Penalty/Fine (USD)
Not yet determined (ongoing case); however, tens of millions in illicit profits cited
Lawsuit Overview
U.S. authorities charged executives of Saitama LLC with wire fraud, market manipulation, and conspiracy involving deceptive practices tied to the Saitama cryptocurrency token. The leadership allegedly misled investors while privately selling off large amounts of tokens for profit.
Category
Fraud / Market Manipulation / Crypto Securities
Notable Individuals Involved
Manpreet Kohli (CEO, UK – awaiting extradition)
Haroon Mohsini (TX – arrested)
Nam Tran (Vietnam – at large)
Max Hernandez (MA – pleaded guilty)
Russell Armand (TX – pleaded guilty)
Vy Pham (CA – pleaded guilty in related matter)
Investor Loss Estimate
Potentially significant based on manipulated $7.5B market cap; exact losses not publicly stated but likely in the tens of millions
Final Outcome
Ongoing; partial guilty pleas (Hernandez and Armand); other defendants awaiting trial or extradition
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