A Chinese national has been sentenced to two decades behind bars for his part in a global crypto-investment fraud scheme which cost victims over $73m.

Daren Li, 42, who is a dual national of China and tiny Caribbean state St. Kitts and Nevis, was sentenced by a Californian court in absentia, after cutting off his electronic tag and disappearing in December 2025.

In November 2024, he pleaded guilty to conspiring with others to launder funds obtained from victims through cryptocurrency scams and related fraud, according to the Department of Justice (DoJ).

At the time, he admitted tricking victims into depositing at least $73.6m into bank accounts under the control of co-conspirators and himself. An estimated $59.8m was placed in…