California Man Gets 51 Months for $37M Crypto Scam 💰⚖️

[chainsniff]

Shengsheng He, of La Puente, California, was sentenced to 51 months in federal prison and ordered to pay $26.9M restitution for helping launder nearly $37M stolen from U.S. investors.

According to the Justice Department, He co-owned Axis Digital Limited, a Bahamas-based firm that received victim funds, converted them to Tether (USDT), and funneled them to scam-controlled wallets.

The fraud used unsolicited calls, messages, and dating apps to lure victims with fake crypto investment opportunities. Money was routed through shell companies and offshore accounts to hide its origin.

#CryptoCrime #DOJ #Tether #Fraud #Scam