Beijing man sentenced to 46 months in prison for participating in 'pig killing' money laundering

Beijing man Su Jingliang was sentenced to 46 months in prison and ordered to pay $26.87 million (approximately RMB 187 million) in compensation for his involvement in the "pig killing pan" telecommunications fraud and money laundering of over $36.9 million (approximately RMB 256 million). The United States previously dismantled a transnational fraud and money laundering gang that used social media or dating apps to guide victims into fake cryptocurrency trading platforms for "investment". The funds flowed into 74 shell company accounts registered in the United States and were converted into Tether (USDT). Su Jingliang is responsible for the conversion and transfer of funds in the fraud chain, and ultimately the funds flow to Southeast Asian fraud dens.