Two men from New York and Nevada sentenced for laundering millions in fraudulent tech support scam targeting elderly victims
Virginia – Two men have been sentenced to more than seven years in federal prison for their roles in a widespread money laundering scheme linked to elder fraud. The court found that Fei Liang, 42, of Flushing, New York, and Ziguang Li, 36, of Las Vegas, Nevada, played key roles in processing more than $6 million in fraud proceeds through fictitious businesses and fake bank accounts.
According to court documents, the scheme involved a fraudulent tech support scam targeting elderly individuals. Victims were tricked into believing that their online accounts had been compromised by criminal activity or technical problems. The scammers convinced victims that they needed to transfer money to “secure” their accounts, often using wire transfers. The fraudulent funds were then funneled into business accounts controlled by Liang and Li, before being moved to other co-conspirators both in the United States and abroad.
Fraudulent Businesses and Stolen Identities
Liang and Li were responsible for setting up fake businesses and bank accounts to launder the stolen money. Investigators discovered that Li maintained detailed, handwritten records of fraudulent business entities used in the scheme. During a search of his residence, law enforcement recovered critical evidence, including:
- Documents containing victims’ stolen personal information (PII)
- Business registration records for fake companies
- Bank account details tied to at least 25 fictitious entities
- Employer Identification Numbers linked to fraudulent businesses
- Computers and cellphones containing records of money transfers from victims
Authorities determined that these business accounts were used to accept fraudulent wire transfers from elderly victims before being rapidly moved to different accounts operated by co-conspirators both domestically and internationally.
Sentencing and Law Enforcement Efforts
Both Liang and Li pleaded guilty to their roles in the scheme.
- Liang pleaded guilty on September 6, 2024, and was sentenced on December 13, 2024.
- Li pleaded guilty on November 1, 2024, and was sentenced today to seven years and three months in federal prison.
The case was prosecuted by Assistant U.S. Attorney Christopher J. Hood and former Assistant U.S. Attorney Kenneth R. Simon Jr. Law enforcement agencies that played key roles in the investigation include:
- FBI Washington Field Office’s Criminal and Cyber Division
- U.S. Postal Inspection Service
- Treasury Inspector General for Tax Administration Cybercrimes Investigation Division
U.S. Attorney for the Eastern District of Virginia Erik S. Siebert, along with top officials from the involved agencies, made the announcement following the sentencing by Senior U.S. District Judge Claude M. Hilton.
Government Crackdown on Elder Fraud
The case highlights ongoing efforts by federal authorities to combat elder fraud and financial scams targeting vulnerable individuals. Law enforcement officials emphasized the need for public awareness to prevent similar schemes from victimizing more elderly Americans.
This sentencing sends a clear message to those engaging in fraudulent schemes—law enforcement agencies are actively tracking, prosecuting, and dismantling criminal networks that exploit the elderly and launder illicit proceeds. Anyone with information regarding elder fraud or related financial crimes is encouraged to report it to federal authorities.