According to the U.S. Department of Justice (DOJ), Bank of America Insider acknowledged that it has supported a global money laundering conspiracy in support of drug traffickers and other illegal companies.
DOJ says Longjian Lee, a former Bank of America employee, was a member of the money laundering and drug trafficking costumes led by Jin Hua Chan.
According to prosecutors, Li used her bank position from 2021 to 2022 to help criminal organizations open several accounts.
Zhang’s organization used BOFA accounts, some of which were registered using Forged Passports and washed illegal funds.
“As part of his involvement, when the bank’s financial audit system flagged or frozen suspicious activity, Li helped Zhang avoid banks’ money laundering anti-money laundering protocols and move illegal funds elsewhere.
Additionally, Li was observed sitting next to Chang at a dinner in New York. There, Chang discussed the percentage of different fees he charged to various criminal groups for drug trafficking and fraud. ”
According to the DOJ, Zhang’s organization is believed to have washed millions of dollars in a matter of months.
“The investigation revealed that Zhang washed bulk cash for drug dealers for a fee and profits from other illegal businesses. Zhang and his organization washed drug revenue and funds worth at least $25 million from other illegal businesses through undercover agents.”
Li pleaded guilty to conspiracy to commit money laundering. He faces financial fines and prison sentences.
“The money laundering conspiracy charges offer up to 20 years of prison, up to three years of supervised release, up to $500,000 fines, or twice the amount involved.”
Generated Image: Midjourney
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