The U.S. Department of Justice (DOJ) has sentenced Daren Li , 42, to 20 years in prison for his involvement in a global cryptocurrency investment scam. Notably, the sentence was handed down in absentia, as Daren Li cut his electronic monitoring device and fled in December 2025, and has not yet been apprehended.
According to the DOJ, Daren Li pleaded guilty in November 2024, admitting to laundering more than $73.6 million with accomplices through crypto scams and related fraud, of which at least $59.8 million originated from shell companies in the United States.
Authorities say the group's tactics include approaching victims through social media, phone calls, and online dating platforms, then luring them into investing in sophisticated fake cryptocurrency exchange websites designed to look like legitimate platforms. In other cases, the perpetrators impersonate technical support staff, convincing victims to transfer money to "fix" fictitious computer problems.
Daren Li is accused of directly controlling the shell company's bank accounts in the US to receive money from victims, and monitoring and coordinating the conversion of these funds into cryptocurrency to conceal their illicit origin. The DOJ said eight accomplices have pleaded guilty in this case, and Daren Li is the first defendant to be sentenced for directly participating in receiving victims' money.
