FAIRFAX, Va. (WRIC) — A California man is awaiting extradition to Virginia after police say he was part of a scheme to steal nearly $50,000 from an electronic financial trading account.

According to the City of Fairfax Police Department, officers began an investigation into a reported fraud on November 22, 2021. It was determined that unknown people accessed an E*Trade account, used it to trade financial assets online, and took over $48,000 from it with two transactions.

The suspects tried to make a third withdrawal, which was declined due to suspicious activity. It was later determined that the money had been laundered and wired to another account.

Police obtained warrants for two counts of computer fraud, one count of attempted computer fraud and one count of money laundering for 63-year-old Aleksey Ivashenkov of San Bernadino, California. On Tuesday, Sept. 13, 2022, Ivashenkov was arrested by San Bernadino Police officers.

Ivashenkov is being held at the West Valley Detention Center in Rancho Cucamonga, where he is waiting to be extradited back to Virginia.