Crypto scam suspect extradited to US in $36.9m case involving 174 victims

A Chinese national has been extradited from the Netherlands to Los Angeles over an alleged Cambodia-based crypto investment scam that targeted 174 identified Americans and moved more than $36.9 million through a Bahamas bank account. Zheng Zhao was extradited from the Netherlands over an alleged crypto scam targeting 174 Americans. Prosecutors allege more than $36.9 million passed through a Bahamas bank before conversion into USDT. Zhao faces a money-laundering conspiracy charge carrying a maximum sentence of 20 years if convicted. Eight co-conspirators have pleaded guilty, with two receiving prison sentences of 51 and 46 months. The U.S.

Source: crypto.news