SINGAPORE: A man who laundered millions of dollars for a cryptocurrency theft ring allegedly led by Singaporean Malone Lam has been sentenced to 70 months’ jail in the United States.

Evan Tangeman, 22, was sentenced in a Washington DC federal court on Friday (Apr 24) for his role in a “multi-state criminal enterprise” that stole more than US$263 million in crypto through an “elaborate social engineering scheme”, the US Attorney’s Office for the District of Columbia said.

Authorities said the group – whose alleged leader Lam has been charged but not convicted – used the stolen funds to bankroll lavish lifestyles, including luxury cars, high-end watches, the gifting of luxury handbags at nightclub parties and nightclub spending that could…