WASHINGTON, July 16 -- The U.S. Department of Justice's Criminal Division issued the following news release:
A New York man and woman made an initial appearance today in Brooklyn, New York on charges of conspiracy to launder money derived from cyber investment fraud scams.
According to the indictment unsealed today, between 2020 and 2022, Zhuoying Chen, 27, of Brooklyn, New York and Haojie Zhang, 38, of Queens, New York managed a network of more than a dozen individuals based in Queens and Brooklyn, who opened 140 bank accounts in the name of approximately 45 shell companies to launder at least $43 million in proceeds of investment scams.Then, Chen and Zhang allegedly conspired with China-based co-conspirators to transfer the funds involv...