"Multiple Arrests Made in Multi-Million Dollar 'Pig Butchering' Crypto Scam"

Four individuals have been charged in Los Angeles for their involvement in a scheme to launder money from cryptocurrency investment scams and other fraudulent activities. The defendants allegedly opened shell companies and bank accounts to transfer funds from victims of these scams, resulting in over $80 million in losses. The scheme involved at least 284 transactions, with more than $20 million directly deposited into accounts associated with the defendants. The fraud involved scammers targeting victims through dating services and social media, persuading them to invest in fraudulent cryptocurrency platforms. If convicted, the defendants could face up to 20 years in prison.