The Nancy State Attorney’s Office has issued an arrest warrant for Frank Schneider, a former Luxembourg intelligence officer who was to be extradited to the United States in connection with a cryptocurrency fraud investigation.
After spending eight years in Luxembourg intelligence, Franck Schneider moved to economic intelligence in 2008, creating Sandstone, a company that worked on cryptocurrency firm OneCoin, Luxembourg media outlet Virgule reported.
Living in Lorraine since the same year, he was the subject of an extradition request by a US judge sent to French authorities on February 4, 2021. He was arrested in France on April 29, 2021. In January 2022, an appeals court ruled against Nancy to extradite to the United States, which was upheld by the court.
Pending this extradition, he was placed under house arrest under an electronic bracelet. An arrest warrant has been issued against him, Nancy’s public prosecutor’s office told AFP, confirming information from Luxembourg Radio 100.7.
When asked, his lawyer Emmanuel Marcigny declined to comment. The US Department of Justice is seeking the former number three of the Luxembourg intelligence services in an investigation into the fraudulent cryptocurrency “OneCoin” that defrauded its users of billions of dollars between 2014 and 2019.
Considered “one of the biggest frauds in history” by the British newspaper The Times in December 2019, the Madoff system involved paying investors with funds brought in by new investors. A citizen of the Grand Duchy is being prosecuted in the United States for conspiracy to commit wire fraud and money laundering under the terms of the Court of Cassation ruling.
The Nancy State Attorney’s Office has issued an arrest warrant for Frank Schneider, a former Luxembourg intelligence officer who was to be extradited to the United States in connection with a cryptocurrency fraud investigation.
After spending eight years in Luxembourg intelligence, Frank Schneider converted.
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