A Chinese dual citizen has pleaded guilty to laundering millions of dollars in proceeds of cryptocurrency investment scams.
Daren Li, 41, a dual citizen of China and St. Kitts and Nevis, and a resident of China, Cambodia, and the United Arab Emirates, pleaded guilty to one count of conspiracy to commit money laundering on Tuesday in the Central District of California.
“Daren Li and his co-conspirators laundered over $73 million from the victims of cryptocurrency investment scams, using a web of shell companies and international bank accounts,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division.
