🔒 California Man Gets 51 Months in Prison for Laundering $36.9M Crypto Scam
A major crackdown on crypto crime! A California man has been sentenced to over 4 years in prison for laundering nearly $37 million from a Cambodian crypto investment scam that targeted U.S. victims.
· 💰 The Scheme: Victims were lured by promises of high returns on fake crypto investments.
· 🌐 The Laundry Machine: Funds were funneled through Huione Guarantee, a notorious Telegram-based marketplace recently shut down after facilitating an estimated $98 billion in illicit transactions.
· 🏦 The Path: Scam proceeds were sent to Deltec Bank in the Bahamas, converted to $USDT, and distributed back to Cambodia.
· 🕵️ The Network: At least eight co-conspirators have already pleaded guilty, highlighting the scale of this organized operation.
This case is a stark reminder of the importance of due diligence and the increasing global effort to track and prosecute crypto-related crime.
What do you think? Does this sentence fit the crime? Sound off below! 👇
#CryptoScam #MoneyLaundering #USDT #Cryptocurrency #Justice #Huione #DeltecBank #CryptoNews #BinanceSquare