Two individuals indicted for allegedly laundering over $43 million in "pig butchering" scam proceeds

Odaily Planet Daily News According to an announcement from the U.S. Attorney's Office for the Eastern District of New York, Chen Zhuoying and Zhang Haojie were formally indicted in Brooklyn Federal Court on July 16 on charges of conspiracy to commit money laundering.

Prosecutors allege that between 2020 and 2022, the two managed a money laundering network of over 10 individuals in the Queens and Brooklyn areas of New York. They used approximately 45 shell companies and 140 corporate bank accounts to transfer at least $43 million in proceeds from "pig butchering" investment fraud schemes to accounts in mainland China.

This case was jointly investigated by the Homeland Security Investigations, the Federal Bureau of Investigation, the Internal Revenue Service Criminal Investigation Division, and the U.S. Postal Inspection Service. If convicted, each defendant faces a maximum sentence of 20 years in prison.