Five men appear as accused: Joseph Wong, Icehen Zhang from China, Jose Somarriba, Los Angeles, Shangsheng He (Shengsheng He) from La-Punty and Jose Somariba. Jingliang Su from China. According to the US Department of Justice, these people conspired and contacted the Americans on social networks and on online dating services, called the phone and sent text messages.
Having entered trust, participants in the scheme persuaded their victims to make investments in digital assets. Having received other people’s money, the attackers convinced people that the investments were increasing – although in fact these funds were not invested anywhere and simply stolen scammers.
More than $ 36.9 million were transferred from American bank accounts controlled by the DelTec Bagama DelTec Bagama, opened to the Axis Digital, founded by Somarriba and HE. Su joined the Axis Digital as a director and took part in the conversion of digital assets and transfer of assigned funds, according to American prota -keepers. Through Deltec Bank, stolen funds were converted into USDT stabelcoins, and then the tokens were transferred to crypto -adordus controlled by scammers in Cambodia, the Ministry of Justice said.
According to law enforcement officers, Wong managed the network of money laundering in Los Angeles, where fake companies were registered, accounts in US banks were opened, and the funds of victims were transferred to international bank accounts.
Zhang and Wong pleaded guilty to conspiracy to launder money. Each of them faces the maximum punishment in the form of 20 years in prison. Zhang has been in custody since May 2024. Zhang, Somarrista and Su also found themselves guilty of conspiracy to manage an unlicensed business for the provision of cash services. On this point of accusation, Zhang, Somarrist and Su threaten the maximum punishment in the form of five years in prison. Su has been in custody since November 2024, and the sentence was scheduled for November 17.
Often scammers impersonate large cryptocurrency exchanges. A similar incident occurred with the 67-year-old artist Ed Suman, whose impostors who pretend to be the Coinbase crypto-tank stole cryptoactives worth more than $ 2 million.
Source: Bits

I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.