Rongjian Li, 38, from Brooklyn, NY, pleaded guilty Thursday to conspiracy charges tied to a large-scale money laundering operation that funneled at least $25 million in drug proceeds and illicit funds. The guilty plea comes after Li was charged as part of a network that spanned across Massachusetts, Rhode Island, New York, and California, according to the U.S. Attorney’s Office for the District of Massachusetts.
The network was led by Jin Hua Zhang, who orchestrated the laundering of bulk cash for drug dealers and other criminal enterprises in exchange for a fee. Funds linked to this operation were traced to several international accounts in countries like Hong Kong, China, India, Cambodia, Brazil, and others, before being seized.
Li, identified as a critical member of the operation, exploited his role as a Bank of America employee from 2021 to 2022. He opened multiple accounts used to funnel illicit funds, and when suspicious activity was flagged by the bank’s auditing systems, Li assisted Zhang in bypassing anti-money laundering measures, allowing the funds to be transferred undetected.
A key detail in the investigation was Li’s presence alongside Zhang during a dinner in New York, where Zhang discussed the fees he charged criminal groups for laundering drug and scam-related profits.
Li faces a maximum sentence of 20 years in prison, up to three years of supervised release, and a potential fine of up to $500,000. The U.S. Attorney’s Office continues to pursue justice in the case, highlighting the severity of money laundering operations that facilitate criminal activities on a global scale.
