Caixin: Partner of a Chongqing Law Firm Goes Missing, Possibly Involved in a 210 Million Yuan Stablecoin Bribery and Money Laundering Case

Odaily Planet Daily News Multiple independent sources confirmed to Caixin that the founding partner and director of a Chongqing law firm was recently taken away by relevant authorities. This lawyer is Peng Jing, the founding partner and director of Chongqing Jingsheng Law Firm. Outsiders speculate that she has intricate connections with the aforementioned fallen officials. According to sources, lawyers from law firms are usually not taken away by the Central Commission for Discipline Inspection (CCDI). "Peng Jing's network is extremely vast, and her case involves too many people."

On March 20, 2026, Chongqing Mayor Hu Henghua was reported to be under investigation. On April 17, Luo Lin, a member of the Standing Committee of the Chongqing Municipal Party Committee and Secretary of the Liangjiang New Area Party Working Committee, was also announced to have fallen from power. According to information circulating in the local political and business circles in Chongqing, the downfall of Hu Henghua and Luo Lin is related to accepting bribes and money laundering through stablecoins. "Peng Jing may be a key figure in this, helping others launder money under the guise of collecting legal fees."

A source stated that in the Hu Henghua case, Lin Xiucheng's son-in-law, Lin Kechuang, gave Hu Henghua 30.8 million USDT (worth approximately 210 million yuan, of which 10 million was a replacement handling fee). After Hu Henghua was investigated, the cold wallet was controlled. The relevant authorities then traced the fund flows from six other cold wallets held by Lin Kechuang. Among them, a transfer of 15.5 million USDT, made simultaneously with the payment to Hu, was allegedly transferred to Luo Lin, according to Lin Kechuang. Luo Lin was taken away by authorities on April 14, 2026. His home was searched on the evening of April 15, but the cold wallet was not found. Subsequently, authorities located Luo Lin's cold wallet at a third party's home. (Caixin)