New York businesswoman sentenced to nine years for $30m political finance scheme

The Guardian - World NewsEN 2 min read 100% complete by Associated PressFebruary 28, 2026 at 12:17 AM

AI Summary

medium article 2 min

Sherry Xue Li, a New York businesswoman, was sentenced to nine years in prison for a $30 million political finance scheme. Li and her co-defendant, Lianbo Wang, defrauded foreign investors, primarily from China, by promising green cards in exchange for $500,000 investments in a fake development project. They used the money for personal expenses and to illegally donate to US political campaigns, including a 2017 Trump fundraiser. Li and Wang charged investors for access to politicians and used the proceeds to make illegal contributions. Li was ordered to forfeit $31.5 million and make restitution to her victims. Wang was previously sentenced to five years in prison for his role in the scheme.

Key Entities & Roles

Key Player Opposition Context

Melania Trump 30% China 40% Joseph Nocella 50% New York ×260% Federal Election Commission (FEC) 60% United States ×570% Donald Trump ×270% Lianbo Wang ×380% Sherry Xue Li ×890%

Keywords

political finance scheme 100% money laundering 80% campaign finance laws 70% fraud 70% illegal donations 60% foreign investors 60% sentenced 50% trump fundraiser 50% fec 40%