According to PANews, Shengsheng He, a resident of La Puente, California, has been sentenced to 51 months in federal prison for his involvement in laundering nearly $37 million in cryptocurrency investment scam funds. He is also ordered to pay $26.9 million in restitution. He operated a shell company, Axis Digital Limited, in the Bahamas with others, converting victim funds into Tether (USDT) and transferring them to fraudulent wallets. This case is part of the U.S. Department of Justice's efforts to combat global cryptocurrency fraud and money laundering, with eight co-defendants having already pleaded guilty.
California Resident Sentenced for Role in Cryptocurrency Fraud Scheme
--・
AI Summary
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Explore the latest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
@Binance_News