The U.S. Department of Justice (DOJ) announced Tuesday that Daren Li, a dual citizen of China and St. Kitts and Nevis, has pleaded guilty to conspiracy to commit money laundering, admitting to laundering over $73 million from cryptocurrency investment scams. Li, 41, operated through a network of shell companies, international bank accounts, and cryptocurrency, specifically tether ( USDT), to conceal funds defrauded from victims. Arrested in April at Atlanta’s airport, Li faces a potential 20-year prison sentence, with sentencing scheduled for March 3, 2025. U.S. Attorney Martin Estrada warned investors to be cautious of quick-profit schemes. The investigation involved multiple agencies, including the Secret Service, Homeland Security, and international partners.
DOJ's Crypto Enforcement Cracks Down on $73M Laundering Scheme
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