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, between June 2019 and June 2021, Wang allegedly received gift cards obtained from victims of wire fraud schemes in the Northern District of New York and other locations. These fraudulently acquired gift cards, totaling over $2 million, were reportedly used at Walmart and Sam’s Club stores in Florida and other states to purchase additional gift cards, disguising the source and nature of the funds.
The charge against Wang carries a potential maximum sentence of 20 years in federal prison. Additionally, he faces a fine up to twice the value of the laundered funds or $4 million in this case, along with a supervised release term of up to three years. Sentencing will be determined by a judge based on statutory guidelines and other factors.
Wang was arrested several weeks ago at Los Angeles International Airport. He was arraigned this week before Magistrate Judge Miroslav Lovric in Binghamton, New York after being transported to the Northern District of New York. Judge Lovric ordered that Wang be 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 accusations at this stage; Wang is presumed innocent until proven guilty.
The FBI is leading the investigation into this case, which is being prosecuted by Assistant U.S. Attorneys Tamara B. Thomson and Michael F. Perry.