A Chinese national has been sentenced for his role in a massive $36.9 million cryptocurrency scam operated from Cambodia. The stolen funds were reportedly laundered through US shell companies and offshore accounts. Learn how the gang operated and the sentencing details.
A massive international fraud that stripped 174 Americans of their life savings has finally reached its conclusion in court. Jingliang Su, a Chinese national, was sentenced to 46 months in prison on Tuesday, 27 January 2026. Alongside his jail time, he was ordered to pay back a whopping $26,867,242 to the people he conned.
The Fake Investment Scam
This was not a typical technical hack; it was a deeply personal deception. According to the US Department of Justice (DoJ) press release, the group operated out of scam centres in Cambodia. Here’s how it worked: Overseas members contacted people through unsolicited phone calls, text messages, and online dating services to build a sense of friendship or romance. Once they had won a person’s trust, they talked them into ‘investing’ in cryptocurrency.
To make the lie look real, they used fake websites that looked like professional trading platforms. These sites showed the victims’ balances growing every day, but the money was already gone. Assistant Attorney General A. Tysen Duva noted that these groups now “weaponize the internet for fraud,” using our own phones and social lives as a way to steal.
Tracking the Stolen Millions
Court records reveal that the operation was massive in scale. Victims were convinced to send their money to accounts controlled by the group. From there, the scammers laundered the cash through a maze of US shell companies (firms that exist only on paper) as well as international bank accounts and digital wallets. In this way, more than $36.9 million was funnelled into a single account at Deltec Bank in the Bahamas.
Su and his partners then ordered the bank to swap the cash for Tether, a digital currency designed to hold a steady value. From there, the funds were sent back to digital wallets in Cambodia to fund the leaders of the scam network.
It is worth noting that Su is just one piece of the puzzle; eight others have already pleaded guilty. This includes ShengSheng He, who was sentenced to 51 months, and Jose Somarriba, who received 36 months.
A Warning to Investors
While the police have successfully tracked down parts of this network, the threat to the public remains. First Assistant US Attorney Bill Essayli warned that while new investment chances look exciting, they usually have a dark side.
He reminded the public that “an ounce of prevention is worth a pound of cure.” The DoJ urges that anyone who suspects they have been targeted should report it immediately to the authorities at IC3.gov.