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US Court Sentences Crypto Fraudster to 20 Years for $73 Million Scam

In a significant ruling, a U.S. court has sentenced Daren Li, a fugitive involved in a massive $73 million cryptocurrency scam, to 20 years in prison.

Li, who is a dual citizen of China and St. Kitts and Nevis, orchestrated a complex fraudulent scheme that targeted American victims.

He pleaded guilty to money laundering after directing co-conspirators to access victims' funds through misleading crypto platforms.

Despite being sentenced in absentia, Li remains at large after removing his electronic ankle monitor and disappearing in December 2025.

Authorities revealed that the fraud was largely facilitated from scam centers in Cambodia, where victims were manipulated through various deceptive tactics.

Prosecutors and law enforcement officials have stated their ongoing efforts to capture Li and hold him accountable for his actions.

This case highlights the increasing focus of U.S. authorities on dismantling international scam operations that exploit technological vulnerabilities.

The Justice Department remains committed to addressing such financial crimes that have devastating impacts on victims.

Li is not alone in facing justice; eight co-conspirators have already pleaded guilty, underlining the thorough investigations being carried out.

As the cryptocurrency market matures, regulatory scrutiny and enforcement against fraudulent activities are expected to increase.