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

Odaily Planet Daily News: Multiple independent sources have 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 high-ranking officials who have fallen from grace. According to an analysis by a source, it is unusual for the Central Commission for Discipline Inspection to take away a law firm's partner, "and Peng Jing's network is very extensive; 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 from local political and business circles in Chongqing, the downfalls of Hu Henghua and Luo Lin are related to accepting bribes and money laundering through stablecoins, and "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, including 10 million as a conversion fee). After Hu Henghua came under investigation, the cold wallet was controlled, and relevant authorities traced the fund flows of six other cold wallets held by Lin Kechuang. Among them, a transfer of 15.5 million USDT, which was made simultaneously with Hu Henghua's transactions, was reportedly sent to Luo Lin by Lin Kechuang. Luo Lin was taken away by authorities on April 14, 2026, and his home was searched on the night of April 15, but the cold wallet was not found. Subsequently, authorities found Luo Lin's cold wallet at a third party's residence. (Caixin.com)