biotech / news / / Chicago Sun-Times
Weiliang Zheng admitted to participating in international money laundering.
Weiliang Zheng admitted guilt in laundering $3 million in drug proceeds from Chicago to Mexico via China.
KEY POINTS
- Undercover agents arrested Zheng and Luo after receiving $95,000 and Chinese bank account details.
- Chinese nationals began replacing Mexican money launderers for cartel cash transfers due to lower fees and faster transactions.
- The scheme used 'mirror swaps' with Chinese currency transfers to evade the U.S. banking system and law enforcement.
- Convicted Chinese money launderers Haiping Pan and Xianbing Gan transferred over $62 million to Mexican cartels.
COMPANIES
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