Daren Li Sentenced in Absentia for $73M Pig-Butchering Crypto Laundering Scheme
A U.S. federal court sentenced Daren Li (42), a dual citizen of China and St. Kitts and Nevis, to 20 years in prison in absentia for conspiring to launder proceeds from an international “pig butchering” cryptocurrency investment/romance-baiting fraud that stole more than $73 million from victims. Li pleaded guilty in November 2024 and admitted that at least $73.6 million in victim funds was deposited into accounts controlled by his group, with a significant portion routed through U.S.-based shell companies; the operation was tied to scam centers in Cambodia and relied on a network of money launderers to move funds through U.S. bank accounts and onward to domestic/international accounts and crypto platforms to obscure origins.
Li was arrested in April 2024 at Hartsfield-Jackson Atlanta International Airport, but fled before sentencing in December 2025 after cutting off his ankle monitor; U.S. authorities have not publicly confirmed his current whereabouts and indicated they will work with international partners to return him to serve the sentence. The court also imposed three years of supervised release following imprisonment, and reporting noted that multiple co-conspirators have pleaded guilty, with Li described as the first sentenced defendant directly involved in receiving victim funds.
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U.S. court sentences Li in absentia to 20 years in prison
A U.S. federal court sentenced Daren Li in absentia to 20 years in prison for conspiring to launder proceeds from Cambodia-based pig-butchering scams. Prosecutors said the operation stole over $73 million from victims and used shell companies, U.S. bank accounts, offshore transfers, and cryptocurrency conversions to hide the funds' origins.
Li cuts off ankle monitor and flees before sentencing
Before sentencing, Li removed his electronic monitoring device and became a fugitive, leading to his later sentencing in absentia. Reports consistently place his flight in December 2025, though one source appears to conflict on the year.
Li pleads guilty to laundering proceeds of $73M crypto scam
Daren Li pleaded guilty to conspiracy to launder proceeds from an international pig-butchering scheme that stole more than $73 million from victims. He admitted victim funds were funneled through U.S. shell-company bank accounts and then moved onward through other accounts and cryptocurrency platforms.
Daren Li arrested at Atlanta airport in pig-butchering probe
U.S. authorities arrested Daren Li at Hartsfield-Jackson Atlanta International Airport as part of an investigation into laundering proceeds from Cambodia-linked cryptocurrency investment scams. The investigation involved the U.S. Secret Service, Homeland Security Investigations, and international partners.
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Chinese National Sentenced to 20 Years for Laundering USD 74 Million in Crypto Scam Proceeds - Fled Before Sentencing | TRM Blog
trmlabs.com
Open sourceCryptohack Roundup: 20 Years for $73 Million Scam
govinfosecurity.com
Open sourceFugitive sentenced to 20 years for $73 million crypto scam | SC Media
scworld.com
Open sourceFugitive behind $73M 'pig butchering' scheme gets 20 years in prison
bleepingcomputer.com
Open sourceChinese crypto scammer sentenced in absentia to 20 years after fleeing US | The Record from Recorded Future News
therecord.media
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U.S. Sentences Crypto Scam Launderers in Multimillion-Dollar Fraud Network
U.S. prosecutors and courts advanced multiple cases tied to large-scale cryptocurrency fraud and laundering operations that targeted American victims through fake trading platforms and social-engineering lures. In one California case, **Jingliang Su**, a Chinese national, was sentenced to 46 months in prison after admitting he helped launder more than **$36.9 million** stolen from 174 victims by a scam network operating from Cambodia; the court also ordered more than **$26.8 million** in restitution. Authorities said the fraud used unsolicited messages, calls, texts, dating platforms, and bogus crypto-investment websites to persuade victims to transfer funds, which were then routed through U.S. shell companies, bank accounts, Deltec Bank in the Bahamas, and **Tether (`USDT`) wallets** controlled abroad. In a related prosecution, **Daren Li**, a dual citizen of China and St. Kitts and Nevis, pleaded guilty to conspiracy to commit money laundering after authorities said he and co-conspirators moved more than **$73 million** in victim proceeds through shell companies, U.S. financial accounts, wire transfers, and conversion into `USDT`; he was later sentenced to **20 years in federal prison**. The cases form part of a broader Justice Department crackdown on transnational crypto-enabled investment scams and money-laundering networks, with officials reporting that multiple co-conspirators have pleaded guilty and that the U.S. Secret Service played a central investigative role.
May 25, 2026
Southeast Asian “Pig Butchering” Scam Compounds and a US Money-Laundering Sentencing
US authorities sentenced Chinese national **Jingliang Su** to **46 months** in federal prison for laundering proceeds from a Cambodia-based “**pig butchering**” fraud operation that stole **~$36.9M** from **174** US victims, according to reporting on the Justice Department case. Court filings described a three-stage playbook—social engineering outreach via social media/dating/texts, steering victims to **fraudulent crypto investment platforms**, and then blocking withdrawals or demanding additional “fees”—with Su acting as a financial conduit; the court also ordered **~$26.9M** in restitution. Separate reporting detailed the operational reality behind similar “pig butchering” scam centers in the **Golden Triangle** region of **northern Laos**, including the **Boshang compound**, where leaked internal chats and a whistleblower account described industrialized fraud run like a sales organization with quotas and scripted victim engagement. The material also described **forced labor and debt bondage** conditions—confiscated passports, coercion, and violence for rule-breaking or escape attempts—highlighting that many scam operators are themselves trafficking victims compelled to conduct online romance/crypto-investment scams at scale.
Mar 21, 2026
California Man Sentenced for Laundering Millions From Social-Engineering Crypto Heists
Evan Tangeman, a 22-year-old from Newport Beach, California, was sentenced to 70 months in prison after pleading guilty to a `RICO` conspiracy tied to a cybercriminal network that stole roughly **$230 million to $260 million** in cryptocurrency from victims. Prosecutors said Tangeman laundered at least **$3.5 million** between October 2023 and May 2025 for the group, which allegedly stole more than **4,100 Bitcoin** from a Washington, D.C., victim in August 2024 and used the proceeds to fund luxury homes, private jets, high-end vehicles, private security, and other lavish purchases. Authorities said the organization, identified by law enforcement as the **Social Engineering Enterprise**, targeted wealthy cryptocurrency holders using stolen and dark-web-sourced data, spoofed phone numbers, impersonation of Google and Gemini support staff, and remote-access tools including **AnyDesk** to obtain Bitcoin Core private keys. Investigators alleged the group then obscured the proceeds through mixers, exchanges, peel chains, pass-through wallets, and VPNs, while Tangeman also helped rent properties under false identities and destroy devices after arrests of key members. Another alleged launderer, **Kunal Mehta**, has also pleaded guilty and is awaiting sentencing.
May 8, 2026