Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)
ALEXANDRIA, Va. – Two men were sentenced to seven years and three months in prison for their roles in laundering over $6 million in elder fraud proceeds.
According to court documents, Fei Liang, 42, of Flushing, New York, and Ziguang Li, 36, of Las Vegas, Nevada, opened bank accounts for fictitious businesses. These bank accounts were used to launder the proceeds of fraud.
Liang’s and Li’s co-conspirators operated a nationwide “tech support” scam or other similar elder fraud scheme, in which they targeted 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). Law enforcement also recovered Li’ s cellphones and computers, which contained victims’ PII, business documents, identification documents, Employer Identification Numbers, and bank account information for at least 25 different entities, including fictitious businesses that provided victim-funded transfers to Li.
Liang pled guilty on Sept. 6, 2024, and was sentenced on Dec. 13, 2024. Li, pled guilty on Nov. 1, 2024, and was sentenced today.
Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Sean Ryan, Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division; Damon E. Wood, Inspector in Charge of the Washington Division of the U.S. Postal Inspection Service; and and Special Agent in Charge Scott Moffit, Treasury Inspector General for Tax Administration Cybercrimes Investigation Division, made the announcement after sentencing by Senior U.S. District Judge Claude M. Hilton.
Assistant U.S. Attorney Christopher J. Hood and former Assistant U.S. Attorney Kenneth R. Simon Jr. prosecuted the case.
A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:24-cr-170.