U.S. Attorney Carla B. Freedman | U.S. Department of Justice
Jun Wang, a 62-year-old Chinese national and lawful permanent resident of the United States, has been indicted for conspiracy to commit money laundering. The announcement was made by United States Attorney Carla B. Freedman and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI).
According to the indictment, Wang allegedly received gift cards from victims of wire fraud schemes between June 2019 and June 2021 in the Northern District of New York and elsewhere. He reportedly used these fraudulently obtained gift cards—totaling more than $2 million—at Walmart and Sam’s Club stores in Florida and other states to purchase additional gift cards, thus disguising the source and nature of the funds.
The charge against Wang carries a potential sentence of up to 20 years in federal prison, along with a fine that could be twice the value of the laundered funds or $4 million in this case. Additionally, he faces a term of supervised release for up to three years. Sentencing will depend on various factors including statutory guidelines.
Wang was arrested several weeks ago at Los Angeles International Airport. He was arraigned this week in Binghamton, New York before Magistrate Judge Miroslav Lovric after being transported to the Northern District of New York. Judge Lovric ordered him detained pending trial, which is anticipated to occur sometime in 2025 before Senior United States District Judge David N. Hurd.
It is important to note that charges are merely accusations at this stage; Wang is presumed innocent unless proven guilty.
The FBI continues its investigation into this case, with prosecution being led by Assistant U.S. Attorneys Tamara B. Thomson and Michael F. Perry.
