SKN Name Pop Up Again in Global $37M Crypto Scam
A California man just get 51 months in federal prison after helping run one serious money-wash operation — and guess who get call up in the papers again? St Kitts and Nevis.
US prosecutors say 39-year-old Shengsheng He move nearly $37 million stolen from victims into offshore accounts and crypto wallets tied to scam centres in Cambodia. He co-own one company in the Bahamas — Axis Digital Limited — that push more than $36.9 million through Deltec Bank before flipping it into Tether (USDT). From there, Cambodian fraudsters spread the cash around like wildfire.
The DOJ say the whole scheme pull in victims through random texts, phone calls, social media and even dating apps — people thought they were stacking digital asset profits, but really their savings did just vanish.
He now owe almost $26.8 million in restitution, while eight other conspirators — including Chinese and SKN nationals — already face conviction.
SKN Keep Getting Dragged
This not the first time the Federation name call in messy business. Remember the private jet asylum hustle in Turkey? Nine Iraqis roll up with fake SKN diplomatic passports and slide straight into Italy. Or just last week, when a US sanctions list expose an SKN CBI passport holder as part of a network smuggling Iranian oil onto the global market.
Different players, same headline: SKN passport or CBI link showing up in one shady story after another.
Reputation on the Line
Yes, CBI money fund schools, hospitals and infrastructure. But every scandal chip away at brand SKN. As one frustrated voice put it after the oil case: “Our misleaders acting like it’s business as usual while the country name keep getting dragged. We can’t afford to keep carrying these stains.”
Now with this $37M Cambodia crypto scheme, once again SKN right there in the footnotes of another international fraud bust.
The Big Question
How long can the Federation shrug these off? The US already make clear they targeting offshore scams and dirty money trails. SKN can’t afford to play background character in the world’s fraud headlines over and over.
Because whether it’s fake passports in Europe, oil smuggling in the Gulf, or crypto laundering in Asia — one thing keep repeating: our name.
