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22-year-old crypto ringleader Malone Lam pleads guilty to $245 million racketeering scheme
Malone Lam, a 22-year-old Singaporean citizen residing in Miami, pleaded guilty on Tuesday to one count of federal racketeering conspiracy. Prosecutors stated that Lam led an international "social engineering" scheme, which stole and laundered over $245 million worth of cryptocurrency. He faces up to 20 years in prison.
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