The U.S. Department of Justice announced that a 45-year-old Chinese national, Jingliang Su, has been sentenced to nearly 4 years in federal prison for laundering approximately $37 million in proceeds from cryptocurrency fraud. He has also been ordered to pay over $26 million in restitution. Prosecutors stated that the transnational criminal network he was part of lured U.S. victims into fake crypto investments through text messages, phone calls, and online dating platforms, using counterfeit trading websites to carry out the scams. The funds were funneled through U.S. shell companies, crypto wallets, and international bank accounts, with approximately $36.9 million eventually transferred to Deltec Bank in the Bahamas and converted into USDT, before being moved by accomplices in Cambodia. A total of 174 U.S. victims have been identified in the case. (The Block) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=55786