TechFlow reports, July 17, according to an announcement by the U.S. Attorney's Office for the Eastern District of New York, U.S. Department of Justice, two Chinese citizens, Chen Zhuoying (aka "Jolene", 27, Brooklyn) and Zhang Haojie (aka "Kevin", 38, Queens), were formally indicted on July 16 at the Brooklyn Federal Court on charges of conspiracy to commit money laundering. According to the allegations, between 2020 and 2022, the two managed a money laundering network of over ten people in Queens and Brooklyn, New York, using approximately 45 shell companies and 140 corporate bank accounts to transfer at least $43 million in proceeds from "pig butchering" investment fraud to accounts within China. "Pig butchering" scams contact victims through social media or instant messaging software, gaining trust with false high-return investment opportunities before absconding with the funds. This case was jointly investigated by Homeland Security Investigations (HSI), the FBI, IRS-CI, and the U.S. Postal Inspection Service. If convicted, the two defendants each face up to 20 years in prison.
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