California Judge Hands Down Maximum Sentence to Fugitive Over $73M Crypto Scam

A federal judge in California has sentenced Daren Li, a dual national of China and St. Kitts and Nevis, to the maximum 20 years in prison for his role in a $73 million cryptocurrency investment fraud.

The sentence was handed down in absentia as Li is still at large after cutting off his ankle monitor and disappearing in December 2025.

The case is one of the largest 'pig butchering' prosecutions to reach sentencing in the US, built around Cambodia-based scam compounds that targeted American victims through spoofed trading platforms.

Li pleaded guilty in November 2024 to conspiracy to commit money laundering tied to cryptocurrency fraud and admitted that at least $73.6 million in victim funds flowed into accounts he controlled.