Chinese National Receives 46-Month Sentence in $36.9 Million Crypto Money Laundering Case

A US federal judge sentenced a Chinese national to nearly four years in prison for his role in laundering more than $36.9 million tied to a crypto investment scam. This sentencing marks an enforcement milestone as US authorities step up efforts to dismantle cryptocurrency fraud networks. Inside the $36.9 Million Crypto Scam According to a statement released by the US Attorney’s Office for the Central District of California, Jingliang Su, a 45-year-old Chinese national, was part of an international criminal network. The group defrauded 174 US victims through a fraudulent digital asset investment scheme. Prosecutors said the group contacted victims via unsolicited social media messages, phone calls, text messages, and online dating platforms. They gained their trust before pitching fraudulent investment opportunities. The co-conspirators used fake websites that closely resembled legitimate cryptocurrency trading platforms, persuading victims to transfer funds. The scammers allegedly stole the money while misleading victims into believing their investments were increasing in value. “New investment opportunities may sound intriguing, but they have a dark side: attracting criminals who, in this case, stole then laundered tens of millions of dollars from their victims,” First Assistant United States Attorney, Bill Essayli, stated. The operation used a sophisticated laundering infrastructure. Authorities estimate that more than $36.9 million in victim funds was moved from US bank accounts controlled by the group into a single account at Deltec Bank in the Bahamas. The funds were converted into Tether (USDT) and sent to digital wallets controlled in Cambodia. Co-conspirators in Cambodia then distributed the converted funds to scam operations across the region. The authorities revealed that Su has been in federal custody since December 2024. He pleaded guilty in June 2025 to one count of conspiracy to operate an illegal money transmitting business. On Tuesday, US District...