Fei Liang, Elder Fraud, Virginia 2024

Two men, Fei Liang and Ziguang Li, have been sentenced to a combined total of over seven years in prison for their roles in laundering over $6 million in elder fraud proceeds.

Liang, 42, of Flushing, New York, and Li, 36, of Las Vegas, Nevada, opened bank accounts for fictitious businesses. These bank accounts were used to launder the proceeds of fraud.

According to court documents, Liang and Li’s co-conspirators operated a nationwide ‘tech support’ scam, targeting unsuspecting victims who logged onto their computer to use one or more online services from various corporations.

The conspirators falsely advised victims of purported criminal or technical issues with their accounts associated with these online services, and that to address these issues they were required to wire money to business accounts. The accounts to which the victims wired money were controlled by the conspirators.

Money from the scam was directed to the accounts opened by Liang and Li. The accounts were then used to wire the proceeds to other members of the conspiracy, domestically and internationally.

During a search of Li’s residence, law enforcement recovered a handwritten list of the fictitious businesses used to further the money laundering scheme, records associated with bank accounts that received victim-funded wires, and copies of documents bearing personal identifiable information (PII).

Liang pled guilty on September 6, 2024, and was sentenced on December 13, 2024 to 7 years and 3 months in prison. Li, pled guilty on November 1, 2024, and was sentenced today to 7 years and 3 months in prison.

Elder fraud is a serious crime that affects many innocent victims. It’s essential to be cautious when receiving unsolicited phone calls or emails, especially those asking for personal or financial information.

The U.S. Attorney’s Office for the Eastern District of Virginia, the FBI, the U.S. Postal Inspection Service, and the Treasury Inspector General for Tax Administration Cybercrimes Investigation Division made the announcement after sentencing.

Assistant U.S. Attorney Christopher J. Hood and former Assistant U.S. Attorney Kenneth R. Simon Jr. prosecuted the case.

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