WASHINGTON, DC – UNITED States authorities have announced a multi-million-dollar reward for information leading to the arrest of a Chinese national who holds economic citizenship in St. Kitts and Nevis and has been convicted in connection with a major cryptocurrency fraud scheme.
In a statement released Thursday, the U.S. State Department, through its Bureau of International Narcotics and Law Enforcement Affairs, said it is offering up to US$4 million under its Transnational Organized Crime Rewards Program (TOCRP) for information on Daren Li.
Li was convicted and sentenced on money laundering charges in the U.S. District Court for the Central District of California but remains a fugitive.
According to U.S. officials, Li facilitated the laundering of millions of dollars in proceeds linked to scam operations based in Southeast Asia. Court documents identify him as a citizen of both the People’s Republic of China and St. Kitts and Nevis, who at various times resided in China, Cambodia, and the United Arab Emirates.
Prosecutors say Li admitted to conspiring with others to launder funds obtained from victims through cryptocurrency investment scams and related fraud schemes.
The State Department noted that such scam networks rely heavily on money launderers who use cryptocurrency to move funds across borders while evading anti-money laundering safeguards.
Investigators revealed that Li directed co-conspirators to open U.S. bank accounts under shell companies and oversaw the transfer of funds through both domestic and international wire transactions.
Authorities estimate that at least US$73.6 million in victim funds passed through accounts linked to Li and his associates, including nearly US$60 million routed through U.S.-based shell companies.
U.S. officials say the reward offer forms part of a broader crackdown on transnational cybercrime networks. This includes recent charges against other individuals accused of operating scam compounds in Myanmar and Cambodia, as well as enforcement actions targeting online platforms and financial networks used to facilitate fraud and human trafficking.
