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Cunwen Zhu Sentenced to 17 Months for Money Laundering in Jacksonville, Florida
A Chinese national has been sentenced to 17 months in federal prison for his role in a money laundering scheme that involved a financial investment scam.
United States District Judge Wendy Berger handed down the sentence to Cunwen Zhu, 45, last week after he entered a guilty plea on April 8, 2024.
According to court documents, Zhu received a $470,000 wire transfer that came from a victim of a financial investment scam. The victim had been led to believe that their money was funding an online brokerage account, when in reality the funds were being used by bad actors for their personal gain.
Zhu took the money, converted it to cryptocurrency, and sent it to his associate in China. In return, he was paid a percentage of the money that he transferred to the Chinese national.
As part of Zhu’s sentence, he was ordered to pay $470,000 to the victim, who was one of many to fall victim to the financial investment scam.
The case was investigated by the United States Secret Service North Florida Cyber Fraud Task Force, in collaboration with other law enforcement agencies.
The case was prosecuted by Assistant United States Attorney John Cannizzaro, who worked tirelessly to bring Zhu to justice.
Zhu’s sentence serves as a reminder that those who engage in money laundering and other financial crimes will be held accountable for their actions.
Key Facts
- State: Florida
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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