Chinese National Jingliang Su Sentenced to 46 Months for Laundering $36.9M
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 1h ago- Case Overview: Chinese national Jingliang Su was sentenced to 46 months in prison for laundering over $36.9 million linked to a cross-border crypto investment scam, alongside a restitution order exceeding $26 million, highlighting the U.S. crackdown on large-scale 'pig butchering' fraud.
- Fraud Techniques Revealed: The group lured 174 U.S. victims through social media, texts, and dating apps into fake 'high-yield' crypto platforms, using fabricated profits to attract investors while siphoning funds in the background.
- Funds Flow Pathway: Prosecutors indicated that Su and his co-conspirators moved victim funds from U.S. bank accounts to a Deltec Bank account in the Bahamas, converting it to USDT before transmitting it to Cambodia, showcasing the complexity of the international money laundering network.
- Impact and Warning: This case not only underscores the severity of cryptocurrency fraud but also reflects ongoing U.S. efforts to combat financial crime, likely prompting more investors to be wary of similar high-risk investment opportunities.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
