Daren Li, a 41-year-old #Chinese citizen, pleaded guilty to conspiracy to launder $73 million received from victims of cryptocurrency fraud. The money was converted into USDT stablecoins.
Attorney General Nicole Argentieri said that Daren Li, who has dual citizenship in China, as well as in Saint Kitts and Nevis, used a network of shell companies. Lee acted with accomplices, corresponding with them through encrypted messaging services. In order to hide the sources of funds, Lee instructed accomplices to open accounts in US banks created on behalf of fictitious organizations and track international bank transfers with funds that came to these companies from deceived victims. This illegally obtained money was converted into USDT stablecoins, and then distributed to the cryptocurrency addresses of Lee and his accomplices.
Despite the fact that Lee was outside the United States, this did not prevent law enforcement agencies from bringing him to justice, the prosecutor noted. The man was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. The court is to sentence the offender on March 3, 2025. He faces a maximum sentence of 20 years in prison.
"We are cooperating with foreign law enforcement agencies to bring to law the crypto fraudsters who violate the rights of Americans, wherever the criminals are. In turn, investors should be skeptical of questionable investments and offers of quick enrichment in order to avoid financial losses," the prosecutor said.
In October, a hacker from the US state of Indiana, who stole more than $37 million in cryptocurrencies from 600 clients, also pleaded guilty to fraud and money laundering. Earlier, the organizer of the Forcount crypto scheme, who stole $8.4 million from Spanish-speaking investors, confessed to fraud.