Daren Li is looking at a maximum of 20 years in prison after pleading guilty to his role in laundering crypto in a $73 million scam scheme.
A Chinese dual citizen has pleaded guilty for his role in helping launder $73 million that was stolen through various crypto scams.
Daren Li, 41, pleaded guilty to one count of conspiracy to commit money laundering for his role in the scheme, which prosecutors said raked in millions through crypto investment scams, such as pig butchering, from around August 2021 to April 12, according to a plea agreement filed on Nov. 11 in a California federal court.
Li admitted he instructed others to open United States-based bank accounts under shell companies to “conceal or disguise the nature, location, source, ownership” of the funds, the filing said.
