Chinese national Zheng Zhao has been extradited to the United States in connection with a fraud case involving more than $36.9 million.

Chinese national Zheng Zhao was extradited from the Netherlands to the United States and appeared in court in the Central District of California on October 23. Zhao is accused of involvement in an investment fraud and money laundering case involving 174 American victims and over $36.9 million. The U.S. Department of Justice (DOJ) stated that the fraud was operated by a Cambodian fraud center, with funds being converted into USDT through a Deltec Bank account and then transferred to Cambodian digital asset wallets. Zhao faces charges of conspiracy to commit money laundering, which carries a maximum penalty of 20 years in prison if convicted. (Source: Bitcoin.com News)