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  • 2 days ago
A New York woman pleaded guilty to a $30 million investment scam that included selling foreign nationals access to a 2017 Trump fundraiser and photo opportunity, according to CNBC. Sherry Xue Li pleaded guilty in federal court to money laundering conspiracy and conspiring to defraud the U.S. by obstructing campaign finance oversight. Li and her co-defendant Lianbo Wang falsely claimed that investors would receive lawful permanent U.S. residency in exchange for their investments. Li and Wang sold foreign investors access to U.S. politicians by illegally channeling foreign funds into American political campaigns. The Trump campaign was not accused of wrongdoing. Li agreed to forfeit $31.5 million and multiple properties and faces up to 20 years in prison at her December sentencing.
Transcript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02New York woman pleaded guilty to a $30 million investment scam that included selling foreign
00:06nationals access to a 2017 Trump fundraiser and photo opportunity, according to CNBC.
00:11Sherry Shway Lee pleaded guilty in federal court to money laundering conspiracy
00:14and conspiring to defraud the U.S. by obstructing campaign finance oversight.
00:19Leader co-defendant Leon Bo Wang falsely claimed that investors would receive lawful permanent
00:23U.S. residency in exchange for their investments. Lee and Wang sold foreign investors access to
00:27U.S. politicians by illegally channeling foreign funds into American political campaigns.
00:32Trump campaign was not accused of wrongdoing. Lee agreed to forfeit $31.5 million and multiple
00:37properties that face up to 20 years in prison at her December sentence.
00:41For all things money, visit Benzinga.com.

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