Californian resident found guilty of SIM Swap scamming
A Californian resident was found guilty and sentenced to three years of probation for SIM Swap scamming. The defendant and his co-conspirators stole the personal information and money of at least forty people.
Richard Yuan Li, a resident of California was sentenced to three years of probation for SIM Swap scamming which targeted at least forty people. The defendant was involved in a SIM Swap scam that routs a victim’s incoming calls and SMSs to a different phone. As a result, personal accounts, including emails, bank accounts, cryptocurrency accounts, and any other accounts with two-factor authentication, were hacked by the perpetrators. Once these accounts were hacked, the defendant and his co-conspirators threatened the victims to release their email contents in exchange for money. The defendant was sentenced to three years of probation, 100 hours of community service, and ordered to pay US$61,117.50 in restitution.