A Los Angeles County man, Jose Somaribba, has been sentenced for his involvement in laundering over $36.9 million connected to a global cryptocurrency scam originating from Cambodia. Somaribba played a significant role in a scheme that deceived victims worldwide with fraudulent crypto investment opportunities, channeling funds through U.S. accounts and shell companies before transferring them to Cambodia and other countries.
The U.S. Department of Justice revealed that Somaribba was among five individuals who pleaded guilty to participating in this international digital asset investment scheme. The scam employed a 'pump and dump' strategy, enticing victims via online platforms and dating apps to invest in fake crypto platforms, ultimately draining their funds. This case underscores U.S. law enforcement's capability to dismantle large-scale digital fraud networks, even those operating from abroad, as part of a broader effort to combat transnational crypto and investment fraud linked to organized crime in Southeast Asia.
Los Angeles Man Sentenced in $36.9M Crypto Scam Money Laundering Case
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