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California Man Sentenced to 51 Months in $37M Crypto Laundering Scheme
California Man Sentenced to 51 Months in $37M Crypto Laundering Scheme
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BTCCSquare news:
Shengsheng He, a La Puente resident, was sentenced to over four years in federal prison for laundering proceeds from a global cryptocurrency investment scam. The scheme defrauded U.S. investors of nearly $37 million through fraudulent digital asset promotions on dating apps and unsolicited communications.
He operated through Bahamas-based Axis Digital Limited, funneling victim funds through Deltec Bank before converting to cryptocurrency. "Scammers falsely assured victims of investment appreciation while systematically stealing their capital," federal prosecutors noted. The case highlights the DOJ's intensified focus on cross-border crypto fraud networks.
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