A Brooklyn man has admitted to his involvement in an international money laundering and drug trafficking scheme. Rongjian Li, 38, pleaded guilty in a federal court in Boston to one count of conspiracy to commit money laundering. U.S. District Judge Angel Kelley set the sentencing date for June 5, 2025.
Li was charged alongside 11 others from Massachusetts, Rhode Island, New York, and California in May 2023. The charges stemmed from their roles in a complex money laundering and drug trafficking operation led by Jin Hua Zhang. According to investigators, Zhang laundered at least $25 million in drug proceeds and other illicit funds through undercover agents within a year. These funds were traced and seized from accounts across several countries including Hong Kong, China, India, Cambodia, and Brazil.
Li was identified as a participant who exploited his position at Bank of America between 2021 and 2022 to open accounts for laundering illegal funds. He also assisted Zhang in bypassing the bank's anti-money laundering measures when accounts were flagged or frozen due to suspicious activity. Li's involvement extended to attending meetings where Zhang discussed fees with criminal groups.
Jin Hua Zhang previously pleaded guilty in September 2023 and will be sentenced on May 15, 2025.
The conspiracy charge could result in up to 20 years imprisonment, three years of supervised release, and fines reaching $500,000 or twice the amount involved. Sentencing will adhere to U.S. Sentencing Guidelines.
The announcement was made by United States Attorney Leah B. Foley along with Jodi Cohen of the FBI’s Boston Division. The case is being prosecuted by Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty, and Meghan C. Cleary.
It should be noted that the indictment details are allegations until proven beyond reasonable doubt in court for remaining defendants.