Fugitive Sentenced to 20 Years for $73 Million Crypto Fraud
A US federal judge has sentenced Daren Li to the maximum 20 years in prison for his role in a $73 million cryptocurrency investment fraud. Li, 42, is a dual national of China and St. Kitts and Nevis who became a fugitive in December 2025 after cutting off his ankle monitor.
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. His co-conspirators in Cambodia contacted victims through social media and encrypted messaging apps, building trust before steering them to fake investment opportunities.
Li admitted that at least $73.6 million in victim funds flowed into accounts he controlled. The maximum sentence is notable, with US District Judge R. Gary Klausner imposing the harshest penalty available despite Li's guilty plea.