Four Charged in $80M Crypto Investment Scam Money Laundering Scheme

Four individuals in Los Angeles have been charged by the U.S. Department of Justice for allegedly laundering over $80 million of victims' funds obtained through crypto investment scams. The scheme involved opening shell companies and bank accounts to conceal the proceeds of fraudulent activities, including "pig butchering" scams. The accused face charges of conspiracy to commit money laundering, concealment money laundering, and international money laundering. Two of the accused, Lu Zhang and Justin Walker, could face up to 20 years in prison if convicted.