LOS ANGELES
Daren Li, a dual national of China and St. Kitts and Nevis, was sentenced in absentia to 20 years in federal prison for laundering more than $73 million in an international cryptocurrency scam targeting U.S. victims.
Li, 42, became a fugitive in December 2025 after cutting off his ankle monitor. U.S. District Judge R. Gary Klausner imposed the statutory maximum 240-month sentence. Restitution will be determined later.
Li pleaded guilty in November 2024 to conspiracy to commit money laundering. Prosecutors said he and his co-conspirators used social media, dating platforms and spoofed crypto websites to gain victims’ trust, then funneled at least $73.6 million through shell companies and converted the proceeds to virtual currency to hide its source.
Assistant Attorney General A. Tysen Duva said authorities are working with international partners to return Li to the U.S. Eight co-conspirators have pleaded guilty. Li is the first defendant sentenced who directly handled victim funds.