Eleven Defendants Arrested for Investment Fraud, Money Laundering and Unlicensed Money Transmitting Business Schemes | USAO-EDNY

An indictment was unsealed today in federal court in Brooklyn charging Jin Hua Zhang, Gregory Armand, Chen Chen, Yanbin Chen, Yanbing Chen, Changgui Huang, Xin Jin, Jiahui Miao, Lingming Zeng, Jin Fu Zhang and Hua Zhou with various offenses, including money laundering conspiracy, wire fraud conspiracy, bank fraud conspiracy, passport fraud conspiracy, aggravated identity theft and conspiring to operate an unlicensed money transmitting business.  The defendants were arrested and arraigned today, in federal court in Brooklyn before United States Magistrate Judge Peggy Kuo. One defendant remains at large.

Breon Peace, United States Attorney for the Eastern District of New York; Michael J. Driscoll, Assistant Director‑in‑Charge, Federal Bureau of Investigation, New York Field Office (FBI); and Frank A. Tarentino III, Special Agent-in-Charge, Drug Enforcement Administration, New York Division (DEA), and Keechant L. Sewell, Commissioner, New York City Police Department (NYPD) announced the indictment.

“As alleged, nearly $18 million was swindled from over 200 victims throughout the country and laundered through the defendants’ sophisticated money laundering scheme,” stated United States Attorney Peace.  “These 11 arrests demonstrate the seriousness of financial fraud and the commitment of this Office and our law enforcement partners to rooting out bad actors and protecting victims.”

“For once the name of a scam – pig butchering – reflects the grotesque…