Zhuoying Chen & Haojie Zhang — $43M Pig-Butchering Laundering Network
Summary
Zhuoying Chen (aka 'Jolene,' 27, Brooklyn, NY) and Haojie Zhang (aka 'Kevin,' 38, Queens, NY) were charged by federal prosecutors on July 16, 2026 with conspiracy to commit money laundering in connection with laundering at least $43 million in proceeds from pig-butchering investment fraud schemes between 2020 and 2022. The pair allegedly managed a domestic infrastructure layer of a China-linked criminal network, recruiting over a dozen money mules across Brooklyn and Queens who opened 140 bank accounts under approximately 45 shell companies, then converted the layered funds to cryptocurrency for transfer to China-based co-conspirators. Both defendants face up to 20 years in prison.
Connected Entities
1 entities · 10 linked investigationsTimeline(3 events)
2020-01-01
Alleged money laundering scheme begins. Chen and Zhang allegedly begin managing a network of money mules in Brooklyn and Queens who open bank accounts under shell companies to receive pig-butchering fraud proceeds.
DOJ Office of Public Affairs2022-12-31
Alleged scheme concludes. By end of 2022, the network had allegedly laundered at least $43 million across 140 bank accounts under approximately 45 shell companies, converting funds to cryptocurrency for remittance to China-based co-conspirators.
DOJ Office of Public Affairs2026-07-16
Federal indictment unsealed in the Eastern District of New York (Brooklyn) charging Zhuoying Chen and Haojie Zhang with conspiracy to commit money laundering. Both defendants appear in Brooklyn federal court. Case announced by DOJ, IRS-CI, FBI, HSI, and U.S. Postal Inspection Service.
DOJ Office of Public AffairsDecision Log
- #1publish⛓ pending8/8/2026, 12:20:40 PMhash: BYtzwmnqC7SEpTnbo48E7Wq9FpzABsZGuhNpbexKS5t7
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model: claude-sonnet-4-6
generated: 8/8/2026, 12:20:31 PM
last updated: 8/8/2026, 4:07:35 PM
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