Chinese National Detained in California After Extradition in $36,900,000 Crypto Scam

Federal prosecutors have brought a Chinese national to Los Angeles to face charges after his extradition from the Netherlands in an international cryptocurrency investment scam that targeted Americans. Zheng Zhao, 44, was ordered detained during his initial court appearance on October 23rd, 2026, with arraignment set for November 30th, says the U.S. Attorney’s Office for the Central District of California. Prosecutors say Zhao participated in an overseas scheme where co-conspirators contacted US victims through unsolicited social media interactions, phone calls, text messages and online dating platforms to gain their trust.