Five people have convicted their roles in the $ 36.9 million International Crypto Scam scheme, which targets Americans, eventually being sent to a Crypto Scam Center in Cambodia.
Crypto scammers used shell companies and US bank accounts, which were to rake into stolen funds before converting them into tithters (USDT) And sending it to a crypto wallet controlled in Cambodia, US Attorney Office for the Central District of California Said On Monday.
The guilty arguments showed the US government’s action on crypto scams and money laundering rings, which are operating outside Asia, especially associated with the North Korean state -backed Lazarus Group.
The Defendants, Joseph Wong, Yicheng Zhang, Jose Somariba, Shengasheng He and Jingliang SU, contacted the victims directly through social media, messaging platform and dating apps, which were engaged in long texts and even calling the victims to win their trusts and to forget them to invest in their crupto investment schemes.
DOJ said, “Scammers will tell the victims that their investment was appreciated, when in fact, those funds were stolen and not invested at all,” said DOJ.
The five people who convicted them were scattered all over America, Spain, China and Turkey.
How Crypto Londering Ring is operated
Somariba and she founded the shell company “Axis Digital” and opened a deltech bank account in Bahamas, which was used to get the money of the victims.
Su worked as a director and helped convert the afflicted funds to USDT, while Wong participated Money laundering network And the victim funds for international bank accounts were wired.
Zhang also managed two American bank accounts used to process illegal funds.
The stolen funds were eventually sent to the leaders of the scam centers in Cambodia, the US Attorney’s office said.
Crypto scammers face years in jail
Zhang, who has been in custody since May 2024, and Wong faced a 20 -year prison sentence for allegations of money laundering conspiracy, convicted.
The US Attorney’s office said that the other three men could be imprisoned for up to five years for convicting the conspiracy to operate the money services business without a license.
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SU has been in custody since November 2024 and is sentenced on 17 November.
Eight people have now convicted crimes related to Crypto scam operation, including Daren Lee And Lu Zhang, both convicted for allegations of money laundering last year.
US Treasury Crypto wants to cut Huyon in relation to crime
It comes as American Treasury Department Binding The Cambodia-based Huon Group, from reaching the US banking system, accused North Korea’s state-provided Lazarus Group of helping Londric Cryptocurrency.
Treasury’s financial crime enforcement network Proposed On May 1, to ban financial institutions from Huione Group reporters or due to reaching accounts.
Huione Group has established itself as a “Bazaar of choice for malicious cyber actors” Lazarus Group, Those who have stolen billions of dollars from everyday Americans, “American Treasury Secretary Scott Besant Said at that time.
On 13 May, Huione Group, an associate of Haowang Guarantee, is considered Communication stopped On Telegram – which depended much more to coordinate its laundering activities.
However, Crypto Analytics firm TRM Labs Said It includes Huon Guarantee and another Telegram-based guarantee service, transactions between Shinbi and behavioral relations, suggesting that it has found a way to bypass the ban.
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