Daren Li, a dual national of China and Saint Kitts and Nevis, has been sentenced to 20 years in prison by the U.S. Federal Court for the Central District of California for his role in a $73 million cryptocurrency investment fraud. The U.S. Department of Justice announced the sentence on February 10, following Li's guilty plea in November 2024. Despite the sentence, Li remains at large after fleeing in December 2025. Li was involved in a transnational scheme that defrauded victims through fake cryptocurrency platforms and phishing websites, often establishing trust via social media and online dating platforms. The fraud resulted in at least $73.6 million in losses, with $59.8 million laundered through U.S. shell companies and converted into cryptocurrency. The U.S. Secret Service led the investigation, with international cooperation to extradite Li ongoing.
Man Sentenced to 20 Years for $73M Crypto Fraud, Remains Fugitive
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