A woman from Saipan was sentenced to 71 months in prison; the Bitcoin investment case involving telecom fraud charges was found to be guilty.

According to a statement released by the U.S. Department of Justice on Monday, 30-year-old Sze Man Yu Inos (also known as Yuki), a woman from Saipan, was sentenced in federal court to 71 months in prison for wire fraud. From November 2020 to January 2022, Inos targeted elderly women in Saipan, Guam, Washington state, and California by carrying out a fraudulent bitcoin investment scheme that defrauded victims of money.

Sentence Details and Financial Penalties

(Source: U.S. Department of Justice)

According to a statement from the U.S. Department of Justice released on Monday, the federal court made the following rulings in this case:

Prison sentence: 71 months

Victim restitution: $769,355

Criminal forfeiture: $684,848

Mandatory special assessment fee: $200

U.S. prosecutor Anderson said in a Department of Justice statement: “The perpetrators of crimes involving affinity fraud are precisely exploiting the psychology of our tendency to trust others too easily. The defendant chose to target elderly women in multiple jurisdictions, causing enormous financial losses. During the pendency of the case, she continued to carry out the fraud.”

Modus Operandi, Victim Group, and Cross-State Expansion

According to the Department of Justice statement, Inos claimed to come from a wealthy family in China and alleged that she had accumulated wealth through bitcoin investments, thereby gaining the trust of her intended targets. The prosecutors said she commonly used language such as “You’re like my mother” to establish an emotional connection with victims, and then induced them to put up money under false pretenses.

The Department of Justice statement confirmed that Inos initially targeted elderly women in Saipan and Guam, with the criminal conduct spanning from November 2020 to January 2022; she then expanded the scope of the fraud to Washington state and California, using the same criminal methods in multiple federal judicial districts.

FBI Report: 2024 Crypto Fraud Losses Reach $11.3 Billion

According to a report released by the FBI this month, in 2024, U.S. losses related to cryptocurrency fraud reached $11.3 billion, a record high, accounting for more than half of the $20.9 billion total annual losses from all internet crimes tracked by the FBI.

Frequently Asked Questions

What crime was Sze Man Yu Inos convicted of? When was the sentencing date?

According to the U.S. Department of Justice statement released on Monday, Sze Man Yu Inos was convicted in federal court of wire fraud, sentenced to 71 months in prison, and ordered to pay restitution of $769,355 to victims and to forfeit $684,848 in criminal forfeiture.

What type of group were the victims in this case, and which areas did the crime take place in?

According to the U.S. Department of Justice statement, the victims were elderly women, and the crime locations included Saipan, Guam, Washington state, and California, with the criminal conduct occurring from November 2020 to January 2022.

What was the total scale of cryptocurrency fraud losses in the U.S. in 2024?

According to the FBI report released this month, in 2024, losses related to cryptocurrency fraud in the U.S. reached $11.3 billion, accounting for more than half of the $20.9 billion total annual losses from internet crime, making it the highest recorded annual figure.