According to Foresight News, according to the announcement of the U.S. Department of Justice, Daren Li, who has dual citizenship of China and St. Kitts and Nevis (China does not recognize dual citizenship), admitted to participating in a $73.6 million cryptocurrency "pig killing" scam and pleaded guilty to conspiracy to launder money. The U.S. Department of Justice said that Li and his accomplices laundered money through a network of shell companies and international bank accounts, instructing accomplices to open U.S. bank accounts in the name of shell companies and supervise the conversion of victim funds into USDT, and then transfer these funds to cryptocurrency wallets controlled by them. Although Li committed crimes outside the United States, he was eventually arrested at Atlanta International Airport in April this year and he will face up to 20 years in prison. The case will be formally sentenced on March 3, 2025.
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Chinese man pleads guilty to involvement in $73.6 million cryptocurrency scam
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