22-year-old Singaporean pleads guilty to $245m crypto heist
US Magistrate Judge Alicia Valle previously compared Lam’s lifestyle to “Ferris Bueller gone bad” during his first court appearance, citing his extravagant spending after gaining access to more than $230 million.
According to the BBC, the US Department of Justice said Lam and his associates spent the proceeds lavishly, including up to $500,000 in a single night at nightclubs.
The US Department of Justice said Lam faces a maximum sentence of 20 years in prison.
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