Two men have been sentenced to seven years and three months in prison for their involvement in laundering over $6 million obtained through an elder fraud scheme. Fei Liang, 42, from Flushing, New York, and Ziguang Li, 36, from Las Vegas, Nevada, were found guilty of opening bank accounts for fictitious businesses to facilitate the money laundering process.
Court documents reveal that the fraudulent activities involved a nationwide "tech support" scam targeting elderly victims. These victims were misled into believing they had criminal or technical issues with their online service accounts and were instructed to wire money to business accounts controlled by the conspirators. The funds were then funneled through accounts managed by Liang and Li before being transferred domestically and internationally.
A search of Li's residence uncovered evidence including a handwritten list of fictitious businesses used in the scheme, records related to bank accounts receiving victim funds, and personal identifiable information (PII) of victims. Additional items recovered included cellphones, computers containing business documents, identification documents, Employer Identification Numbers, and bank account details for at least 25 entities.
Liang pleaded guilty on September 6, 2024, and was sentenced on December 13, 2024. Li entered his guilty plea on November 1, 2024, and received his sentence today.
The announcement was made by Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Sean Ryan from the FBI Washington Field Office's Criminal and Cyber Division; and Damon E. Wood from the U.S. Postal Inspection Service after sentencing by Senior U.S. District Judge Claude M. Hilton.
Assistant U.S. Attorney Christopher J. Hood and former Assistant U.S. Attorney Kenneth R. Simon Jr. prosecuted the case.
Further information can be accessed on the website of the U.S. Attorney’s Office for the Eastern District of Virginia or through PACER using Case No. 1:24-cr-170.