The post 174 Americans Hit in $36.9M Crypto Scam as DOJ Hands Prison Sentence appeared first on Coinpedia Fintech News
A U.S. court sentenced Jingliang Su, a 45-year-old Chinese national, to 46 months in federal prison for laundering more than $36.9 million from a crypto investment scam. The scheme, run from Cambodia, targeted 174 Americans.
U.S. District Judge R. Gary Klausner also ordered Su to pay $26.8 million in restitution. Su pleaded guilty in June 2025 to conspiracy to operate an illegal money transmitting business. He has been in federal custody since December 2024.
How the Scam Worked
The scam started on social media, dating apps, phone calls, and text messages. Co-conspirators reached out to victims and spent time building trust before pitching fake crypto investment opportunities.
They set up websites that looked like real trading platforms. Victims deposited funds and saw fake profits on their screens. In reality, the money was already gone.
From there, Su and others moved victim funds through U.S. shell companies to an account at Deltec Bank in the Bahamas. The funds were then converted to USDT and sent to digital wallets in Cambodia, where scam center operators collected the money.
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Eight Others Plead Guilty
Su was not working alone. Eight co-conspirators have pleaded guilty so far. ShengSheng He received 51 months in prison. Jose Somarriba got 36 months. Both faced the same conspiracy charge as Su.
“This defendant and his co-conspirators scammed 174 Americans out of their hard-earned money,” said Assistant Attorney General A. Tysen Duva. “In the digital age, criminals have found new ways to weaponize the internet for fraud.”
DOJ Continues Crypto Fraud Crackdown
The case is part of the Department of Justice’s ongoing push against international scam networks. Since 2020, the DOJ’s Computer Crime and Intellectual Property Section has convicted over 180 cybercriminals and returned more than $350 million to victims.
The U.S. Secret Service, Homeland Security Investigations, and the Dominican National Police assisted in the investigation.
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FAQs
Jingliang Su, a Chinese national, was sentenced to 46 months for laundering $36.9M in a crypto investment scam targeting 174 Americans.
Scammers used social media, dating apps, and fake trading sites to trick victims into depositing money, showing fake profits before stealing funds.
Victim funds went through U.S. shell companies, a Bahamian bank, and were converted to USDT, then sent to digital wallets in Cambodia.
The DOJ prosecutes international crypto fraud, recovering millions for victims, with help from the Secret Service and Homeland Security Investigations.