The U.S. Department of Justice (DOJ) has announced a 20-year prison sentence for Daren Li (42 years old) for participating in a global cryptocurrency investment fraud scheme. Notably, the sentence was issued in absentia, as Daren Li cut off his electronic monitoring device and fled in December 2025, and has not yet been apprehended.

According to the DOJ, Daren Li pleaded guilty in November 2024, admitting that he and his accomplices laundered over 73.6 million USD through various crypto fraud schemes and related scams, of which at least 59.8 million USD originated from shell companies in the U.S.

Authorities stated that this group's tactics included reaching out to victims via social media, phone calls, and online dating platforms, subsequently luring them to invest in fake cryptocurrency exchange websites designed to resemble legitimate platforms. In some other cases, the perpetrators impersonated technical support staff, convincing victims to transfer money to 'resolve non-existent computer issues.'

Daren Li is accused of directly controlling the bank accounts of the shell companies in the U.S. to receive money from victims, while also monitoring and coordinating the conversion of funds into cryptocurrency to conceal their illegal origins. The DOJ reported that 8 accomplices have pleaded guilty in this case, and Daren Li is the first defendant to be sentenced for his direct involvement in receiving victims' money.