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California Man Charged in New Orleans SIM Swap Scam
NEW ORLEANS – In a shocking case of cybercrime, Richard Yuan Li, 21, a resident of Hercules, California, has been charged by a federal grand jury in the Eastern District of Louisiana in a four-count superseding indictment for his role in a SIM Swap scam that targeted at least 40 people, including a New Orleans-area physician.
According to the superseding indictment, Li allegedly participated in a scheme that involved swapping victims’ SIM cards to cellular phones in his possession, including an Apple iPhone 8. He and his co-conspirators then gained access to victims’ email accounts and cryptocurrency accounts, stealing a significant portion of their cryptocurrency. The scheme also involved contacting victims and demanding ransoms to avoid further harm.
Li’s scheme was uncovered after an Apple customer service representative was convinced to provide a second Apple iPhone without payment. Li and his co-conspirator, B.P., defrauded Apple into providing the iPhone, which they then used to swap victims’ SIM cards. Between July 19, 2018, and December 6, 2018, at least 40 different phone numbers were activated on Li’s Apple iPhone 8.
Li faces a maximum term of 20 years in prison for each of Counts 1 and 3, up to 5 years in prison for Count 2, and a mandatory consecutive 2 years in prison for Count 4. He also faces a fine of up to $250,000.00, up to 3 years of supervised release after imprisonment, and a mandatory $100 special assessment per count.
U.S. Attorney Duane A. Evans praised the work of the Federal Bureau of Investigation in uncovering the scheme. Assistant United States Attorney Jordan Ginsberg, Chief of the Public Corruption Unit, is in charge of the prosecution.
Li’s alleged crimes highlight the growing threat of SIM Swap scams, a type of cellular phone account takeover fraud that can result in victims losing access to their personal accounts and information.
A superseding indictment is merely a charge, and the guilt of the defendant must be proven beyond a reasonable doubt. Li’s case is a stark reminder of the importance of staying vigilant against cyber threats and protecting personal information.
Key Facts
- State: Louisiana
- Category: Cybercrime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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