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California Man Sentenced in $37M Crypto Scam Amid Ongoing DOJ Crackdown
Shengsheng He, a California man who helped launder nearly $37 million stolen from U.S. investors through a global cryptocurrency scam, was sentenced Monday to 51 months in federal prison and ordered to pay $26.9 million in restitution, federal prosecutors said. A resident of La Puente, California, He pleaded guilty in April to conspiracy to operate an unlicensed money transmitting business. According to the Justice Department, He co-owned Axis Digital Limited, a Bahamas-based company used to receive and transfer victim funds. The scheme relied on unsolicited messages, phone calls, and dating app conversations to ... (full story)
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