New York Man Sentenced to Six Years for $1 Million Bitcoin Scam

Xianchun Li, a 34-year-old man from New York, has been sentenced to six years of non-mandatory prison time for stealing over $1 million from an elderly victim. The theft involved a Bitcoin investment scheme that was operated through a website and contacted the victim via Facebook in January 2025.

Li had pleaded guilty to three counts of theft from a person in a protected class, which were amended from second-degree felonies to third-degree felonies as part of a plea deal. In court, an advocate for the Crime Victim Services read an impact statement on behalf of the victim, stating that the crime had caused significant emotional harm and that Li's remorse was only about getting caught.

The defense attorney argued that Li's family had already paid $25,000 in restitution and that he was unlikely to reoffend due to his lack of prior convictions. However, Judge Jeffrey Reed noted that the charges would not merge due to the harm caused to the victim and imposed a prison sentence of 24 months for each count.

In addition to the prison time, Li faces deportation and must pay a final restitution of $200,000 to the victim's family on top of court fees. The case highlights the risks involved in investment schemes and the importance of being cautious when dealing with unfamiliar online ventures.