Fugitive gets 20 years for $73M crypto fraud scheme
A US federal court sentenced Daren Li to 20 years in prison for his role in a $73 million cryptocurrency scam. Li, 42, is a dual citizen of China and St. Kitts and Nevis who fled after cutting his ankle monitor in December 2025.
Scam defrauded American victims of millions
The fraud scheme stole over $73 million from American victims through an international cryptocurrency investment operation. Court documents show Li admitted that more than $73 million was deposited into accounts he controlled. Investigators traced $59.8 million of stolen funds through US shell companies. The broader criminal network operated crypto wallets containing $341 million linked to the scheme.
"As part of an international cryptocurrency investment scam, Daren Li and his co-conspirators laundered over $73 million dollars stolen from American victims", 08 February 2026. — A. Tysen Duva, Assistant Attorney General, Justice Department Criminal Division
Defendant fled after cutting ankle monitor
Li became a fugitive after cutting off his ankle monitor in December 2025. He fled before the sentencing hearing took place. The court proceeded with sentencing despite his absence. The Justice Department Criminal Division works with international law enforcement agencies to locate and extradite Li.
"The Court's sentence reflects the gravity of Li's conduct, which caused devastating losses to victims throughout our country", 08 February 2026. — A. Tysen Duva, Assistant Attorney General, Justice Department Criminal Division
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