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Large Fraud Network: Los Angeles Man Launders $36.9 Million!
A Los Angeles resident has been sentenced to federal prison for money laundering in an international cryptocurrency scam.
Large Fraud Network: Los Angeles Man Launders $36.9 Million!
A Los Angeles County man was convicted today, November 7, 2025, of money laundering as part of an international fraud scheme. Jose Somaribba had helped launder over $36.9 million linked to a digital investment scam from Cambodia. The fraud scheme deceived victims worldwide by tricking them into transferring money to US accounts under the guise of offering legitimate cryptocurrency and investment opportunities. Authorities report that Somaribba and his co-conspirators used a network of shell companies and bank accounts controlled by accomplices to transfer the funds abroad, particularly to Cambodia and other countries.
In these countries, the fraudsters operated so-called “investment centers” where they continued their fraudulent activities. The Justice Department's office highlights the reach of U.S. law enforcement agencies also operating abroad to combat financial networks involved in large-scale digital fraud. “It is essential for us to pursue these criminal networks, no matter where they are located,” emphasized a spokesman for the ministry. This is part of a federal offensive against transnational crypto and investment fraud schemes often linked to organized criminal groups in Southeast Asia.
Details of the fraud scheme
The scams in which Somaribba was involved often resembled so-called “pig butchering” schemes. These schemes involved luring victims through online messaging services and dating apps that advertised fake crypto platforms to them. Victims were gradually robbed of their savings, further exacerbating the scale of the fraud.
Jose Somaribba is one of five men who have pleaded guilty to involvement in the global digital investment conspiracy. The group laundered a total of more than $36.9 million from these scams. The Justice Department emphasizes the importance of prosecuting such cases to restore consumer trust in digital assets and stop such fraudulent schemes.
The dimensions of these criminal activities illustrate how international and extensive digital fraud operations can be. In an increasingly digital world, both private investors and regulators need to be more vigilant to protect themselves from fraudulent offers.