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A U.S. federal court has sentenced Sze Man Yu Inos, also known as “Yuki,” to 71 months in prison over a bitcoin-related fraud case.
The case centered on a scheme that targeted several victims, including older women.
Inos, 30, was convicted of wire fraud, according to a Monday statement from the U.S. Department of Justice. The court also ordered financial penalties linked to the losses reported by victims.
Prosecutors detail bitcoin investment claims
Prosecutors said Inos targeted older women in Saipan and Guam between November 2020 and January 2022. She allegedly built personal trust with them before asking for bitcoin investments under false claims.
Authorities said she claimed to come from a wealthy Chinese family and said she had made successful bitcoin investments. Prosecutors said she often used emotional language, including, “You are like my mom,” before seeking money from victims.
Additionally, the court ordered Inos to pay $769,355 in restitution. It also imposed a criminal forfeiture personal money judgment of $684,848 and a mandatory $200 special assessment fee.
U.S. Attorney Anderson said the case involved affinity fraud, where criminals use trust and personal ties to reach victims.
“Criminals engaged in affinity fraud prey on our willingness to trust others,” Anderson said.
Case adds to rising crypto fraud concerns
Authorities said Inos later expanded the scheme to reach more victims in Washington and California. Prosecutors also said she continued scams while the case was pending.
The case comes as crypto-related fraud losses remain high. A recent FBI report said crypto fraud losses reached a record $11.3 billion last year, making up more than half of the $20.9 billion in total internet crime losses tracked by the agency.