Chinese National Pleads Guilty to Laundering $73 Million in Crypto Scam

‘Investors should be diligent and on guard against anyone offering quick riches via new, exotic investments,’ a U.S. attorney warned.

The Department of Justice in Washington on July 29, 2024. Madalina Vasiliu/The Epoch Times

A dual citizen of China and St. Kitts and Nevis has pleaded guilty in a U.S. federal court to his role in a scheme that involved laundering more than $73 million in illicit proceeds obtained through cryptocurrency investment scams.

Daren Li, 41, pleaded guilty to conspiracy to commit money laundering in a Los Angeles federal court on Nov. 12, according to a press release from the U.S. Attorney’s Office for the Central District of California.