Dec 18, 2023, 03:22 PM
Four American citizens have been accused of taking part in an illegal scheme that made them over $80 million through cryptocurrency investment scams.
The individuals involved are Lu Zhang, 36, from Alhambra, California; Justin Walker, 31, from Cypress, California; Joseph Wong, 32, from Rosemead, California; and Hailong Zhu, 40, from Naperville, Illinois.
They have been charged with conspiracy to commit money laundering, concealment money laundering, and international money laundering.
The U.S. Department of Justice (DoJ) revealed that Zhang and Walker were arrested in connection with the fraudulent operation.
The group set up fake companies and bank accounts to carry out scams related to pig butchering, and then transferred the illegally obtained funds to both domestic and international financial institutions.
If found guilty, Zhang and Walker could face a maximum prison sentence of 20 years.
The other alleged co-conspirators are still on the run.
The individuals involved are Lu Zhang, 36, from Alhambra, California; Justin Walker, 31, from Cypress, California; Joseph Wong, 32, from Rosemead, California; and Hailong Zhu, 40, from Naperville, Illinois.
They have been charged with conspiracy to commit money laundering, concealment money laundering, and international money laundering.
The U.S. Department of Justice (DoJ) revealed that Zhang and Walker were arrested in connection with the fraudulent operation.
The group set up fake companies and bank accounts to carry out scams related to pig butchering, and then transferred the illegally obtained funds to both domestic and international financial institutions.
If found guilty, Zhang and Walker could face a maximum prison sentence of 20 years.
The other alleged co-conspirators are still on the run.