Sherry Xue Li, a New York businesswoman, was sentenced to nine years in federal prison for a financial scheme that stole over $30 million from foreign investors and channeled funds to a President Donald Trump campaign fundraiser. Li, 54, also pleaded guilty to money laundering conspiracy and defrauding the Federal Election Commission (FEC), per court records. She faces forfeiture of $31.5 million, property seizures, and restitution to victims. Her co-defendant, Lianbo Wang, received a five-year sentence for similar charges.

Li and Wang, naturalized U.S. citizens, lured investors—many from China—with promises of a $500,000 return on a fictitious real estate project, falsely claiming it would secure lawful permanent residency. Instead, they spent millions on luxury goods, travel, and housing, according to prosecutors. They also sold access to U.S. politicians, using proceeds to make $600,000 in illegal campaign donations, including to Trump’s 2017 fundraiser. Li even staged a photo op with Trump and Melania to promote the scam.

The Trump campaign and FEC were unaware of the fraud. Investors, misled by Li’s false promises, suffered significant losses. Prosecutors emphasized the scheme’s scale: over $500,000 per investor, with Li and Wang siphoning funds for personal gain. Li’s lawyer declined comment, but U.S. Attorney Joseph Nocella called the case “cynical schemes” harming victims.

This case highlights vulnerabilities in cross-border investment schemes and the intersection of financial fraud with political fundraising. It underscores the risks of trusting unverified claims about residency or political access, particularly in high-stakes U.S. markets.