DOJ reported that Daren Li received the statutory maximum 20-year sentence in absentia for his role in a global cryptocurrency investment conspiracy. Prosecutors allege the scam relied on fraudulent or spoofed platforms and laundered more than $73 million from American victims from scam centers in Cambodia.

The U.S. Department of Justice announced that Daren Li was sentenced to 20 years in prison for his role in an alleged global cryptocurrency investment scam connected to scam centers operating in Cambodia. DOJ said Li received the statutory maximum sentence in absentia. Prosecutors alleged that victims were induced to invest through fraudulent and/or spoofed online platforms designed to appear legitimate and to persuade people to send money. The government’s account describes an organized investment conspiracy involving deception at the interface between victims and the purported crypto investment opportunity, where scam websites or related digital systems were used to solicit funds and sustain the fraud. DOJ further alleged that more than $73 million was laundered from American victims, with cryptocurrency serving as a key component of the movement and concealment of funds. The alleged laundering activity is described as supporting the operation’s continued functioning, helping criminals separate illicit origin from the destinations of the proceeds. DOJ’s announcement indicates the case involves cross-border conduct, linking U.S.-based victims to overseas scam infrastructure. The sentence reflects DOJ’s approach to treating crypto investment fraud as a serious federal offense, including for participants connected to overseas operations and financial laundering networks.