CryptoIntelligence
2024-05-24 02:14:00

U.S. Authorities Arrest Two in $73 Million Crypto Money Laundering Scheme

U.S. authorities have apprehended two individuals accused of orchestrating a significant money laundering operation. This scheme allegedly funneled over $73 million through American financial institutions, ultimately converting the funds into the cryptocurrency Tether (USDT). The U.S. Justice Department reported that Daren Li was arrested at Atlanta’s airport in Georgia on April 12, while Yicheng Zhang was taken into custody in Los Angeles on May 16. The indictment against the pair, unsealed in a California court on May 16, details their purported involvement in the scheme. Li, Zhang, and their associates are accused of managing an international criminal network that laundered

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.