Tag: Yicheng Zhang

Two Chinese Nationals Arrested in the U.S. for Laundering $73 Million Linked to Crypto Scams!

Court Cases Ben - May 18, 2024

The U.S. Department of Justice (DOJ) announced that two Chinese nationals have been charged with laundering over $73 million from cryptocurrency investment scams, often referred to as "pig butchering." The indictment, unsealed in the Central District of California, alleges that Daren Li and Yicheng Zhang orchestrated a complex international money-laundering scheme. A cryptocurrency wallet involved in the scheme received more than $341 million in virtual assets.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

Disclaimer: FinTelegram is an independent intelligence and compliance platform and does not provide investment, legal, or financial advice. Content published on this website, including references and links to third-party sources, is provided for informational, contextual, and educational purposes only and does not constitute a recommendation, endorsement, or solicitation. Readers must make their own independent assessment and obtain professional advice where appropriate. Past events and referenced materials are not a track record and should not be relied upon as an indicator of future results.