U.S. authorities have charged two New York residents, including Zhuoying Chen, in connection with an alleged Chinese money laundering network accused of laundering at least $43 million generated through cyber investment fraud schemes. The indictment, unsealed in Brooklyn, alleges the operation ran between 2020 and 2022 and involved an extensive network of shell companies and bank accounts. 

According to prosecutors, Zhuoying Chen, 27, of Brooklyn, and Haojie Zhang, 38, of Queens, managed more than a dozen individuals across Brooklyn and Queens. The group allegedly opened 140 bank accounts under approximately 45 shell companies to move proceeds from fraudulent investment scams before trans...