OYSTER BAY, L.I. – Sherry Xue Li was sentenced by United States District Judge Gary Brown to nine years in prison for money laundering conspiracy and conspiracy to defraud the United States by obstructing the Federal Election Commission’s (FEC) administration of campaign finance laws.
Li orchestrated a nearly decade-long scheme to defraud investors out of more than $30 million through a fictitious development project called the Thompson Educational Center. As part of the scheme, Li and her co-defendant Lianbo Wang falsely promised those investors that their investments would guarantee them lawful permanent resident status in the United States.
Li and Wang also sold foreign investors access to U.S. politicians at fundraisers by collecting foreign-sourced funds from them and unlawfully contributing those funds to U.S. political campaigns and committees.
As part of the sentence, Li was ordered to forfeit $31.5 million, as well as property at three locations, and to make restitution to her victims in the same amount.
In 2024, Wang pleaded guilty to engaging in unlawful monetary transactions and conspiracy to defraud the United States and was sentenced to 60 months’ imprisonment. Li pleaded guilty in July 2025.
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