Former Bank of America Employee Sentenced for Role in International Money Laundering Conspiracy

BOSTON – A New York man was sentenced on Oct. 27, 2025 for his involvement in a sophisticated international money laundering and drug trafficking organization.

Rongjian Li, 38, of Staten Island, N.Y., was sentenced by U.S. District Court Judge Angel Kelley to three years of probation, with the first year to be served on home confinement. Following home confinement, Li will be required to perform 100 hours of community service. In February 2025, Li pleaded guilty to money laundering conspiracy.

In May 2023, a federal grand jury in Boston returned a superseding indictment charging 12 individuals from Massachusetts, Rhode Island, New York and California for their alleged involvement in a sophisticated international money laundering and drug trafficking organization. The network was identified in the greater Boston area in 2021 along with the leader of the organization, Jin Hua Zhang, based in Staten Island, New York, and a number of his criminal associates. The investigation revealed that, for a fee, Zhang laundered bulk cash for drug dealers and laundered profits from other illegal businesses. In less than one year, Zhang and his organization laundered at least $25 million.

A large portion of the laundered funds were generated by criminal groups operating overseas who tricked U.S. victims into falling for a variety of internet-based frauds. These frauds included tricking victims into sending money to purchase or extend warranties or soliciting victims to invest in cryptocurrencies and then stealing the invested funds. In order to help these criminal groups launder these funds, Zhang needed U.S. bank accounts.

Rongjian Li was a Bank of America employee in New York who became friendly with Zhang. In 2021-2022, Zhang directed his runners to meet with Li at Li’s Bank of America branch. Li knew some of Zhang’s accounts were opened with runners using fraudulent passports and knew that the accounts were intended for use to launder “scam” money. When the bank’s financial auditing systems flagged or froze accounts for suspicious activity, Li misused the branch customer information system to help Zhang move illicit funds elsewhere. Finally, Li was seated next to Zhang at a lengthy recorded dinner in New York with undercover agents where Zhang discussed the different fee percentages he charged various criminal groups for drug trafficking and scams.

United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement. Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty and Meghan C. Cleary of the Criminal Division prosecuted the case.

The details contained in the indictment are allegations. The remaining defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.