Joshua S. Levy, U.S. Attorney | U.S. Attorney for the District of Massachusetts
A Brooklyn man has admitted guilt in a Boston federal court for his involvement in an international money laundering and drug trafficking conspiracy. Rongjian Li, aged 38, pleaded guilty to one count of conspiracy to commit money laundering. U.S. District Judge Angel Kelley has set the sentencing date for June 5, 2025.
Li was part of a group of 12 individuals charged in May 2023 with participating in an international money laundering and drug trafficking operation led by Jin Hua Zhang. The investigation found that Zhang laundered cash for drug dealers and other illegal businesses. Within less than a year, Zhang's organization managed to launder at least $25 million through undercover agents. These funds were traced to accounts located in Hong Kong, China, India, Cambodia, Brazil, and other places.
As a Bank of America employee from 2021 to 2022, Li played a role in the conspiracy by opening accounts used for laundering illicit funds. He was aware that some accounts were opened using fake passports. When bank systems flagged or froze these accounts due to suspicious activities, Li assisted Zhang in bypassing anti-money laundering protocols. Additionally, Li was seen with Zhang at a dinner where Zhang discussed fee percentages charged to various criminal groups.
Zhang himself pleaded guilty in September 2023 and is scheduled for sentencing on May 15, 2025.
The charge against Li carries a potential sentence of up to 20 years imprisonment, three years supervised release, and a fine up to $500,000 or twice the amount involved.
United States Attorney Leah B. Foley and Jodi Cohen from the FBI's Boston Division announced this development. Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty, and Meghan C. Cleary are handling the prosecution.
It is important to note that details within the indictment remain allegations until proven beyond reasonable doubt in court.
