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.
Chinese National Pleads Guilty to Laundering $73 Million in Crypto Scam
The Department of Justice in Washington on July 29, 2024. Madalina Vasiliu/The Epoch Times
Frank Fang
Updated:
0:00

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.

Frank Fang
Frank Fang
journalist
Frank Fang is a Taiwan-based journalist. He covers U.S., China, and Taiwan news. He holds a master's degree in materials science from Tsinghua University in Taiwan.
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