Fugitive sentenced 20 years for $73M scam laundering ring

Fugitive sentenced in $73 million pig-butchering laundering case

A federal court in the Central District of California sentenced fugitive Daren Li to 20 years in prison for his role in a money-laundering and cryptocurrency investment fraud conspiracy that victimized millions. Li, 42, pleaded guilty in November 2024 to conspiracy and money laundering charges tied to Cambodia-based 'pig-butchering' scams that defrauded investors of at least $73.6 million, according to court filings.

Li was arrested at Hartsfield-Jackson Atlanta International Airport in Georgia after returning to the United States, but subsequently fled federal supervision in late 2025 and remains at large. The sentence was imposed in absentia, along with three years of supervised release, making him "the first defendant directly involved in receiving and distributing victim funds to be sentenced" in the broader conspiracy network, according to law enforcement Agentry.

How the scheme operated

Pig-butchering scams are a form of romance and investment fraud originating in Southeast Asia, typically based in Cambodia, Laos, or Myanmar. Perpetrators pose as romantic interests or investment advisors to lure victims into fake cryptocurrency schemes, often moving victims to encrypted messaging platforms before requesting funds. The $73.6 million conspiracy represents one of the larger documented cases prosecuted in federal court in recent years.

Li's specific role in the network involved receiving and distributing proceeds from the scams—a key position in the money laundering pipeline that converted illicit cryptocurrency gains into usable funds. His guilty plea and conviction document his direct participation in moving victim money through the financial system.

At large and coordinated prosecution

The case is part of a broader federal investigation into transnational money-laundering networks connected to Southeast Asia–based fraud operations. Agencies including the FBI and Department of Justice have coordinated prosecutions against multiple members of the conspiracy, resulting in charges and convictions of other defendants involved in receiving and distributing fraud proceeds across U.S. jurisdictions Agentry.

Li's flight from supervision while under federal custody underscores enforcement challenges in combating transnational financial crime. Despite the 20-year sentence, his absence from custody means the conviction serves primarily as a legal judgment and a placeholder for potential future enforcement if he is apprehended. Federal authorities have listed him as a fugitive and remain actively seeking his location.