LONG ISLAND — A New York businesswoman has pleaded guilty in connection with a financial scheme that ripped off more than $30 million from foreign investors and funneled some of the stolen money into U.S. political campaigns, including a 2017 fundraiser for President Donald Trump during his first term.

Sherry Xue Li, 48, of Oyster Bay, pleaded guilty Wednesday in federal court on Long Island to money laundering conspiracy and conspiracy to defraud the U.S. by obstructing the Federal Election Commission’s administration of campaign finance laws. She faces up to 20 years in prison and is set to be sentenced on Dec. 5.

Her lawyer, Kevin Keating, declined to comment on the plea and the charges Wednesday. She has been detained since her arrest in 2022.

Li’s co-defendant, Lianbo Wang, pleade

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