PANews reported on September 9th that Shengsheng He, a resident of La Puente, California, was sentenced to 51 months in federal prison and ordered to pay $26.9 million in restitution for assisting in the laundering of nearly $37 million in crypto investment fraud funds, according to Decrypt. He and others operated the Bahamian shell company Axis Digital Limited, which converted victim funds into Tether (USDT) through bank accounts and transferred them to fraudulent wallets. The case is part of the U.S. Department of Justice's global crackdown on crypto fraud and money laundering, and eight co-defendants have pleaded guilty.