According to CoinMeta, as reported by Reuters, Saitama's CEO, Manpreet Kohli, lost a lawsuit challenging his extradition to the United States in a British court. The U.S. prosecution accused him of telecommunications fraud and market manipulation related to tokens once valued at $7.5 billion. Judge Samuel Goozee dismissed Kohli's challenge on August 19th and referred the case to a British minister, who will decide whether to issue an extradition order. Kohli is currently on bail of £200,000 (about $272,400) and still has the option to appeal against the ruling. The prosecution alleges that Kohli and other individuals involved in the project publicly claimed to buy and hold Saitama tokens, but in reality sold them privately, with Kohli profiting approximately $20 million through this scheme.