In brief
- Prosecutors said the scheme used social media, dating platforms and spoofed trading sites to build trust before extracting funds, a tactic known as “pig butchering.”
- At least $73.6 million in victim funds was routed through bank accounts and U.S. shell companies before being converted into crypto, court filings show.
- U.S. authorities said the operation was run from scam centres in Cambodia and involved multiple co-conspirators, eight of whom have pleaded guilty.
A U.S. court sentenced a crypto scam organizer to 20 years in prison for his role in a $73 million global fraud and laundering scheme, even as he remains a fugitive after fleeing electronic monitoring.
A federal judge in California sentenced Daren Li, a dual national…
Feb 10 2026
