US Court Sentences Chinese National to Nearly 4 Years for 37M Crypto Fraud

A Chinese national received a 46-month Nearly 4 years federal prison sentence for his role in laundering over 36.9 million stolen from American victims through a sophisticated crypto investment scam operated from Cambodia.
According to a DOJ release, Jingliang Su, 45, was also ordered to pay 26,867,242 in restitution following his guilty plea to conspiracy to operate an illegal money transmitting business. United States District Judge R. Gary Klausner handed down the sentence, marking another victory in the Justice Department s escalating campaign against international scam center operations.
After gaining their targets trust, the scammers promoted fraudulent digital asset investments that appeared legitimate. Co-conspirators created fake websites that resembled legitimate cryptocurrency trading platforms and convinced victims to send funds to these counterfeit sites. The scammers would then falsely inform victims that their investments were appreciating in value, when in fact the money had already been stolen.
This defendant and his co-conspirators scammed 174 Americans out of their hard-earned money, said Assistant Attorney General A. Tysen Duva of the Justice Department s Criminal Division.
In the digital age, criminals have found new ways to weaponize the internet for fraud.