Tuesday, January 8, 2013 - 1:38pm
Cyber-theft suspect pleads guilty
The crime is estimated to have cost U.S. businesses $100 million...but a Chinese national will spend time in a federal prison as a result.
Xiang Li, of Chengdu, China, entered a guilty plea on Monday in federal court in Delaware, to providing pirated software to customers via a web-site called Crack 99.
Li reportedly engaged in his crime from 2008 to 2011 before the case was cracked by the U.S. Immigration and Customs Enforcement's Homeland Security Investigations.
When he's sentenced on May 3, he faces a maximum sentence of 25 years, a $250,000 fine and three years of supervised probation following his prison term.
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