Fei Liao, a Chinese national, has been sentenced to 40 months in federal prison for his role in laundering money from cryptocurrency investment. This ruling underscores ongoing federal enforcement against crypto-enabled money laundering. The case adds to the broader crackdown on illicit activity within the digital asset space, highlighting the serious penalties associated with laundering proceeds through cryptocurrency channels.
Fei Liao, a Chinese national, has been sentenced to 40 months in federal prison for laundering funds tied to cryptocurrency investments. The ruling underscores ongoing federal enforcement against crypto-enabled money laundering. The case contributes to the broader crackdown on illicit activity within the digital asset space and highlights the penalties associated with laundering proceeds through cryptocurrency channels.
Prosecutors described the scheme as moving funds via cryptocurrency networks to obscure their origins, reflecting a growing focus on crypto-enabled laundering. The sentence underscores that such offenses carry significant penalties in federal courts. This case mirrors a broader federal crackdown on illicit activity in the digital asset space and illustrates the seriousness of enforcement against laundering proceeds through crypto channels.
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