In a $37 million cryptocurrency money laundering case, a suspect was sentenced to nearly 4 years in prison

The U.S. Attorney's Office for the Central District of California has announced that a suspect involved in a large-scale cryptocurrency money laundering scheme has been sentenced. Jingliang Su, a 45-year-old Chinese national, was sentenced to nearly 4 years in federal prison on Tuesday local time for his role in laundering nearly $37 million in illegal digital assets, and he was ordered to pay over $26 million in restitution.

Prosecutors noted that Jingliang Su was a member of a transnational criminal network that contacted U.S. victims through text messages, phone calls, and online dating platforms, luring them into participating in fraudulent cryptocurrency investments. Victims were directed to counterfeit websites of legitimate trading platforms and were falsely informed that their investments were generating profits, while the actual funds were being transferred and embezzled.

Investigations revealed that the relevant funds were laundered through U.S. shell companies, digital asset wallets, and international bank accounts, with approximately $36.9 million ultimately being wired to an account at Deltec Bank in the Bahamas and converted to USDT. Subsequently, accomplices located in Cambodia transferred the USDT to the masterminds behind the regional scam centers.

The U.S. government has confirmed at least 174 American victims. Jingliang Su had previously pleaded guilty in June to a charge of "conspiracy to operate an illegal money transmitting business." A total of 8 individuals involved in the case have pleaded guilty, including another suspect who has been sentenced to over 4 years in prison.