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
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
About the author
WRITTEN BYBitcoin.com News DeskEditorial Desk Reporter
The Bitcoin.com News Desk publishes timely reporting on market developments, protocol updates, regulatory changes, and industry announcements across the cryptocurrency sector.
