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

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.

Sherry Xue Li, a New York businesswoman, was sentenced to nine years in federal prison on Friday for a scheme that defrauded foreign investors of over $30 million. Li and her co-defendant, Lianbo Wang, used some of the stolen funds to contribute to American political campaigns, including a fundraiser for then-President Donald Trump. Li pleaded guilty to money laundering conspiracy and defrauding the U.S. by obstructing campaign finance laws, while Wang pleaded guilty to similar charges and received a five-year sentence. In addition to her prison sentence, Li was ordered to forfeit $31.5 million and property and to provide restitution to her victims. The US Attorney stated that Li deceived investors for personal gain, causing them significant financial losses.