Two individuals have been charged with laundering over $43 million from "pig butchering" investment scams.

Odaily reported that according to a press release from the United States 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, charged with conspiracy to commit money laundering.

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

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