Crypto fraudster faces jail, restitution
According to court filings, Su and his co-conspirators laundered investors’ money through various U.S. shell companies, international bank accounts and digital asset wallets.
Specifically, U.S. authorities alleged that more than US$36.9 million was transferred from U.S. bank accounts to an account at Deltec Bank in the Bahamas, which was then converted into the stablecoin Tether, and transferred to a digital wallet controlled from Cambodia.
So far, eight co-conspirators have pleaded guilty to conspiracy charges in connection with the scheme.
The U.S. Department of Justice (DoJ) stressed that it has stepped up its fight against these kinds of large-scale offshore crypto frauds.
“In the digital age, criminals have…
