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Fugitive Crypto Fraud Mastermind Sentenced to 20 Years in $74M Laundering Case

Fugitive Crypto Fraud Mastermind Sentenced to 20 Years in $74M Laundering Case

Author:

Global Cryptocurrency

Published:

2026-02-10 13:32:02

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BTCCSquare news:

Daren Li, a 42-year-old dual citizen of China and St. Kitts and Nevis, has been sentenced in absentia to 20 years in prison for orchestrating a $73.6 million cryptocurrency investment fraud. Li pleaded guilty in 2024 but fled custody in December 2025 after cutting his ankle monitor, remaining at large as authorities collaborate internationally to locate him.

The scheme involved laundering $59.8 million through U.S.-based shell companies, with victims lured via fake online relationships into sending funds to fraudulent trading platforms. The operation, linked to scam centers in Cambodia, highlights the dark underbelly of crypto's rapid growth.

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