Chinese national Su Jingliang was sentenced to nearly four years in prison in the United States for allegedly laundering $37 million in cryptocurrency fraud.

According to Mars Finance, on January 28, the U.S. Department of Justice announced that a 45-year-old Chinese man, Jingliang Su, was sentenced to nearly four years in federal prison and ordered to pay over $26 million in restitution for his involvement in laundering nearly $37 million in cryptocurrency fraud proceeds. Prosecutors stated that his transnational criminal network lured U.S. victims into fraudulent cryptocurrency investments via text messages, phone calls, and online dating platforms, using fake trading websites to carry out the scam. The funds were transferred through U.S. shell companies, cryptocurrency wallets, and international bank accounts, with approximately $36.9 million ultimately being transferred to Deltec Bank in the Bahamas and converted into USDT, before being transferred by accomplices in Cambodia. A total of 174 U.S. victims were identified in the case. (The Block)