Geoffrey K. Auyeung, a resident of the Seattle area in Washington State, USA, has been sentenced to 5 years in prison for his involvement in a $97.1 million investment fraud and money laundering scheme. Prosecutors stated that between 2022 and 2024, the group lured victims into transferring funds under the guise of oil and gas investments. Auyeung was responsible for receiving the funds and converting/transferring them through crypto assets like Bitcoin, Ethereum, USDT, and USDC, with the majority of the funds ultimately flowing to Binance. Auyeung earned at least $4 million in commissions from this scheme. Authorities have seized over $2.3 million in bank deposits, $7.1 million in crypto assets, and related properties. (Decrypt) https://(wublock123.com)/news/us-man-sentenced-5-years-for-aiding-crypto-transfer-of-100m-fraud-proceeds-62505