A man has been sentenced to 20 years in prison for his involvement in a global cryptocurrency investment scam that exceeded $73 million.

PANews reported on February 10 that the U.S. Department of Justice announced that 42-year-old Daren Li has been sentenced to 20 years in prison for his involvement in a global cryptocurrency investment scam. Daren Li is scheduled to cut off his electronic ankle bracelet in December 2025 and flee; he remains at large. This sentencing was delivered in absentia.

Daren Li pleaded guilty in November 2024 to laundering more than $73.6 million with accomplices through cryptocurrency fraud and related scams, of which at least $59.8 million came from U.S. shell companies. Their methods included luring victims through social media, phone calls, and online dating services, using fake legitimate cryptocurrency trading platforms to commit fraud, or impersonating customer service to induce victims to transfer money under the guise of resolving fake computer problems. Daren Li controlled U.S. shell company accounts to receive the victims' funds and monitored the conversion of funds into cryptocurrencies to conceal the source of the funds. Eight accomplices have pleaded guilty so far, and Daren Li is the first defendant directly involved in receiving the victims' funds to be sentenced.