The U.S. Department of Justice has arrested and charged two Chinese nationals for allegedly orchestrating a pig butchering scam and laundering $73 million from victims.
The scheme involved laundering money from victims through shell companies under the guise of an international crypto investment scam. Both individuals, Daren Li, 41, and Yicheng Zhang, 38 have been arrested on April 12 and May 16 respectively. Prosecutors have also accused the two of operating an international crime syndicate that operated by laundering funds taken from the cryptocurrency investment scams. Victims of the operation were tricked into transferring millions to bank accounts in the name of the shell companies. The money was transferred to U.S. bank accounts, and then received in offshore accounts in the Bahamas, and was converted to be accessible by the operators. Both operators have been charged with conspiracy to commit money laundering and six counts of international money laundering.
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https://thehackernews.com/2024/05/chinese-nationals-arrested-for.html
