Former Bank Employee Pleads Guilty to Role in International Money Laundering Conspiracy

BOSTON – A Brooklyn, N.Y. man pleaded guilty today in federal court in Boston in connection with his role in a sophisticated international money laundering and drug trafficking organization.

Rongjian Li, 38, pleaded guilty to one count of conspiracy to commit money laundering. U.S. District Judge Angel Kelley scheduled sentencing for June 5, 2025.

In May 2023, Li was among 12 individuals from Massachusetts, Rhode Island, New York and California charged in a superseding indictment for their alleged involvement in a sophisticated international money laundering and drug trafficking organization led by Jin Hua Zhang. The investigation revealed that, for a fee, Zhang laundered bulk cash for drug dealers and laundered profits from other illegal businesses. In less than a year, Zhang and his organization laundered at least $25 million worth of drug proceeds and funds from other illegal businesses through undercover agents. Funds were eventually traced to, and seized from, accounts in Hong Kong and elsewhere in China, India, Cambodia and Brazil, among other locations.

The investigation identified Li as a member of the money laundering conspiracy who, from 2021 through 2022, used his position as a Bank of America employee to knowingly open several accounts through which the organization laundered illicit funds. Li was also aware that some of the accounts were opened using fraudulent passports. As part of his involvement, when the bank’s financial auditing systems flagged or froze accounts for suspicious activity, Li helped Zhang circumvent the bank’s anti-money laundering protocols and move illicit funds elsewhere. In addition, Li was observed sitting next to Zhang at a dinner in New York, where Zhang discussed the different fee percentages he charged various criminal groups for drug trafficking and scams.

Zhang pleaded guilty in September 2023 and is scheduled to be sentenced on May 15, 2025.

The charge of money laundering conspiracy provides for a sentence of up to 20 years in prison, up to three years of supervised release and a fine of up to $500,000, or twice the amount involved, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

United States Attorney Leah B. Foley and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement today. Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty and Meghan C. Cleary of the Criminal Division are prosecuting 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.