Shengsheng He, a California resident, was sentenced to 51 months in prison for his role in laundering nearly $37 million stolen through a global cryptocurrency investment scam. He co-owned Axis Digital Limited, a Bahamas-based company that received and transferred victim funds. Victims were lured through unsolicited messages and dating apps, misled into investing in fraudulent digital assets. Once they sent money, it was funneled into a bank account and converted to USDT before being moved to wallets controlled by scammers. The scheme is part of a wider crackdown by the Department of Justice (DOJ) on crypto fraud, as authorities continue to target operations involved in money laundering and investment scams. He was ordered to pay $26.9 million in restitution, and eight co-conspirators have pleaded guilty in connection with this case. The DOJ continues its efforts in combatting global cryptocurrency fraud, having seized assets and returned funds to victims in various other scams throughout the year.

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