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International Business Times UK

Welbert Bauyaban

Singaporean Man Pleads Guilty in $245M Crypto Case Tied to $500K Nightclub Spending

Malone Lam Crypto Singapore Luxury Bitcoin United States

Malone Lam pleads guilty in a $245 million crypto racketeering case linked to lavish nightclub and luxury spending (Credit: Broward Sheriff’s Office)

Malone Lam, a 22-year-old Singaporean citizen, pleaded guilty in Washington, D.C., on 8 September to one count of participating in a racketeering conspiracy that US prosecutors said stole and laundered more than $245 million (£181.2 million) in cryptocurrency.

The case grew from a September 2024 indictment involving Lam and Jeandiel Serrano before prosecutors expanded it into a wider Racketeer Influenced and Corrupt Organizations, or RICO, case.

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