Xizhi Li, Money Laundering, Virginia 2023

In a significant blow to transnational crime, the U.S. government has unsealed a superseding indictment against six individuals accused of participating in a nationwide money laundering network. The indictment, which was announced on [Date: 2023-03-01], alleges that the defendants conspired to use various methods to launder millions of dollars in drug proceeds on behalf of foreign cartels.

The superseding indictment charges Xizhi Li, Jianxing Chen, Jiayu Chen, Eric Yong Woo, Jingyuan Li, Tao Liu, and others with participating in a years-long conspiracy to use casinos, front companies, foreign and domestic bank accounts, and bulk cash smuggling to launder money.

According to the indictment, the defendants allegedly used these methods to launder millions of dollars in drug proceeds for foreign cartels. The indictment also alleges that Tao Liu planned to bribe a U.S. State Department official using wire transfers and cryptocurrency to create U.S. passports that he and his associates would use to enter the United States and engage in additional crimes, including money laundering.

The indictment marks the culmination of a nearly four-year investigation into the relationship between foreign drug trafficking organizations and Asian money laundering networks in the United States, China, and elsewhere.

Acting Assistant Attorney General Brian C. Rabbitt praised the efforts of the U.S. Attorney’s Office for the Eastern District of Virginia and federal law enforcement partners for taking down the criminal organization. “The U.S. government is committed to disrupting and dismantling transnational criminal organizations that distribute contraband, launder illicit proceeds, and attempt to corrupt our society,” Rabbitt said.

U.S. Attorney G. Zachary Terwilliger also commended the collaborative efforts of multiple law enforcement agencies and units that contributed to the successful investigation. “We would not have been able to achieve this result without our investigative partners and agencies around the world helping contribute to this case,” Terwilliger said.

The superseding indictment seeks to hold the defendants accountable for their alleged crimes. If convicted, they face significant prison time and fines. The case is a significant example of the U.S. government’s commitment to combating transnational crime and protecting the financial system.

Source: https://www.justice.gov/archives/opa/pr/united-states-unseals-superseding-indictment-charging-nationwide-money-laundering-network