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U.S. prosecutors charge Chen and Zhang in investment-fraud money-laundering case

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U.S. prosecutors charged Zhuoying Chen and Haojie Zhang in a cyber investment fraud money-laundering case, exposing a network that allegedly moved at least $43 million in stolen proceeds.

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Timeline

  1. 17.07.2026 11:13 2 articles · 2h ago

    U.S. prosecutors charge Chen and Zhang over $43 million investment-fraud laundering network

    Legal Policy Action Update

    U.S. prosecutors charged Zhuoying Chen and Haojie Zhang for roles in a large-scale network that allegedly laundered at least $43 million in proceeds from cyber investment fraud scams. The network was based in Queens and Brooklyn, allegedly operated between 2020 and 2022, used 140 bank accounts and roughly 45 shell companies to move funds to bank accounts in China, and relied on social media and messaging services to contact potential targets and promote fraudulent investments.

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