Two people indicted for money laundering over $43 million in "pig butchering" investment scams

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 on July 16 in the Brooklyn Federal Court on charges of conspiracy to commit money laundering.

Prosecutors allege that between 2020 and 2022, the two managed a money laundering network of over ten people in the Queens and Brooklyn areas of New York, utilizing approximately 45 shell companies and 140 corporate bank accounts to transfer at least $43 million from "pig butchering" investment scam proceeds to accounts in Mainland China.

This case was jointly investigated by the U.S. 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 of the two defendants faces a maximum of 20 years in prison.