Sugar Land resident sent to prison for Bitstamp cryptocurrency fraud scheme
Jan 18, 2024 · Sourced to the U.S. Department of Justice
A 37-year-old man has been sentenced for aggravated identity theft in connection with a scheme to fraudulently obtain and launder more than $500,000
Defendants
- Xiaofei Chen — age 37 · Sugar Land · sentenced
Charges
Aggravated identity theft in connection with a scheme to fraudulently obtain and launder more than $500,000
Max: 24 months in federal prisonXiaofei Chen· pleaded guilty
Financial actions
- fraud: $520,000 — Fraudulent wire from victim's checking account using stolen identity
From the announcement
“The emergence of cryptocurrency has revolutionized finance, but has also provided a new playground for identity theft and financial fraud”
“Whether the stolen money is counted in dollars or bitcoins, the Southern District’s prosecutors will aggressively prosecute identity thieves and fraudsters and not rest until the offenders are behind bars.”
Investigating agencies
Case details
- Prosecuting office
- Southern District of Texas
- Judge
- Alfred H. Bennett, U.S. District Judge
- Assets
- Bitcoin
Primary source
Every fact above is drawn from the Department of Justice's own announcement — a public-domain government record.
Read the original DOJ release →This is a research and reference page compiled from public DOJ announcements, not legal advice. Details reflect the government's statements as of its release date and may not capture later developments such as appeals, dismissals, or overturned convictions. Defendants are presumed innocent unless and until proven guilty.