Woman who duped investors, funneled money to Trump fundraiser gets 9 years in prison
ABC News
A New York businesswoman has been sentenced to nine years in federal prison over a financial scheme that prosecutors say ripped off more than $30 million from foreign investors and funneled some of the stolen funds to U.S. political campaigns, includin...
CENTRAL ISLIP, N.Y. -- A New York businesswoman was sentenced Friday to nine years in federal prison over a financial scheme that ripped off more than $30 million from foreign investors and funneled some of the stolen money into U.S. political campaigns, including a fundraiser for President Donald Trump.
Sherry Xue Li was also ordered to forfeit $31.5 million, as well as property at three locations, and to make restitution to her victims.
The 54-year-old Oyster Bay resident, who has been detained since her arrest in 2022, pleaded guilty last year to money laundering conspiracy and conspiracy to defraud the U.S. by obstructing the Federal Election Commission’s administration of campaign finance laws.
Her co-defendant, Lianbo Wang, also pleaded guilty to similar charges and was sentenced to five years in prison.
Li’s lawyer didn’t immediately respond to an email seeking comment Friday, but U.S. Attorney Joseph Nocella said she “faces justice for her cynical schemes.”
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