According to a press release on the official website of the Department of Justice in the United States, the Central District of California has announced a lawsuit charging two Chinese citizens with investment fraud involving at least $73 million through cryptocurrency and they have been arrested.
Daren Li, 41 years old, is a dual citizen of China and St. Kitts and Nevis, and is also a resident of China, Cambodia, and the United Arab Emirates. He was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport and was subsequently transferred to the Central District of California. Yicheng Zhang, 38 years old, is a Chinese national currently residing in Temple City, California. He was arrested in Los Angeles yesterday.
It is reported that the fraudulent scheme involved laundering over $73 million to a bank account in the Bahamas through US financial institutions and converting it into the virtual asset USDT (Tether). A cryptocurrency wallet involved in the scheme received over $341 million in virtual assets. The two suspects are charged with conspiracy to commit money laundering and six substantive international money laundering offenses. If convicted, the defendants could face a maximum sentence of 20 years in prison.
Tags:
Cryptocurrency
Fraud
Source link:
https://www.justice.gov/opa/pr/two-foreign-nationals-arrested-laundering-least…
Note: The content of this news article represents the views of the author and does not constitute investment advice.
Original article link:
https://www.bitpush.news/articles/6743834
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