The U.S. Department of Justice has charged two Chinese citizens with laundering over $43 million for a "pig butchering" scam

According to a statement from the U.S. Attorney's Office for the Eastern District of New York, two Chinese citizens, Chen Zhuoying (also known as "Jolene," 27 years old, Brooklyn) and Zhang Haojie (also known as "Kevin," 38 years old, Queens), were formally charged on July 16 in federal court in Brooklyn with conspiracy to commit money laundering.

According to the allegations, the two managed a money laundering network of over ten people in Queens and Brooklyn from 2020 to 2022, using approximately 45 shell companies and 140 business bank accounts to transfer at least $43 million in proceeds from "pig butchering" investment scams to accounts in China. The "pig butchering" scam contacts victims through social media or instant messaging software, gaining their trust with false high-return investment opportunities before absconding with their money. This case is being jointly investigated by Homeland Security Investigations (HSI), the FBI, IRS-CI, and the U.S. Postal Inspection Service. If convicted, both defendants face a maximum of 20 years in prison.