[Chinese National Sentenced to 40 Months in the U.S. for Cryptocurrency Fraud] According to the U.S. Department of Justice's Eastern District of Texas Attorney's Office, 31-year-old Chinese national Liao Fei has been sentenced to 40 months in federal prison for participating in cryptocurrency investment fraud and money laundering activities. Liao Fei pleaded guilty to conspiracy to commit money laundering, involving millions of dollars. The court ordered him to forfeit over $2.3 million in seized funds and pay more than $2.8 million in restitution to victims. According to court information, Liao Fei and his accomplices laundered proceeds from "pig-butchering" scams through shell companies and bank accounts. The fraudulent schemes included contacting victims via social media and guiding them into cryptocurrency investments.