Beijing man involved in virtual currency US "pig-butchering" scam sentenced to 3 years and 10 months in prison, to pay $26.87 million in compensation

DeepFlowTech · 2026-01-31T09:48:39+00:00

Su Jingliang was sentenced to 46 months in prison for participating in transnational "pig-butchering" telecom fraud and is required to pay $26.87 million in compensation. He manipulated funds through fake cryptocurrency trading platforms, connected to 74 shell companies, and transferred victims' funds to Southeast Asian scam operations.

DeepFlowTech

2026-01-31 09:48:39

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Deep Tide TechFlow News, January 31 — According to Caixin, Su Jingliang, a 46-year-old Chinese man from Beijing, was sentenced to 46 months in prison and ordered to pay restitution of up to $26.87 million (approximately RMB 1.87 billion) for participating in a “pig-butchering” scam involving over $36.9 million (about RMB 2.56 billion) in telecom fraud and money laundering. Previously, the United States dismantled a transnational scam and money laundering ring that built trust with victims through social media or dating apps, then guided them into fake cryptocurrency trading platforms for so-called “investments.” Funds from 174 American victims flowed into accounts of 74 shell companies registered in the U.S., and once the funds arrived, they were converted into Tether (USDT).

It is reported that in this “pig-butchering” telecom scam chain, Su Jingliang played a key role as the “accountant.” He communicated with employees of Deltec Bank via encrypted messaging app Telegram, received funds from front shell companies in the U.S., and instructed the bank to quickly convert the incoming USD assets into stablecoin USDT. The funds were then directed to specific virtual currency wallets starting with “TRteo,” which ultimately flowed to Southeast Asian scam dens.

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