The duo coordinated with accomplices in China and other countries, employing a sophisticated trade-based money laundering strategy.
In a significant development in the fight against drug trafficking, a Georgia man has pleaded guilty to his role in a conspiracy that laundered tens of millions of dollars in illicit drug proceeds for notorious foreign drug trafficking organizations, including the infamous Sinaloa Cartel and the Jalisco Cartel.
Li Pei Tan, 46, of Buford, entered his plea today, joining Chaojie Chen, 41, a Chinese national living in Chicago, who pleaded guilty earlier this year on August 5 for his involvement in the same money laundering operation.
Court documents reveal a detailed picture of how Tan and Chen, along with their co-conspirators, orchestrated a complex scheme to funnel millions from the sale of illegal drugs, primarily imported from Mexico. Their activities involved trafficking substances like fentanyl and cocaine, with Tan and Chen traversing the United States to collect vast sums of cash generated from these illegal operations.
The duo coordinated with accomplices in China and other countries, employing a sophisticated trade-based money laundering strategy. This scheme involved purchasing bulk electronics in the U.S. and shipping them to their co-conspirators overseas, cleverly masking the true origins of their drug profits.
Law enforcement had been tracking the operation closely. Prior to Chen’s arrest in May, authorities seized hundreds of thousands of dollars in cash linked to drug trafficking from him at various locations across the country. Meanwhile, Tan was caught in South Carolina attempting to transport over $197,000 in drug proceeds.
According to the Drug Enforcement Administration (DEA)’s National Drug Threat Assessment, the Sinaloa and Jalisco cartels are pivotal players in the ongoing fentanyl crisis devastating communities across the United States.
As part of their guilty pleas, both Tan and Chen agreed to forfeit significant assets to the government, including a residence, a firearm, body armor, and more than $270,000 in seized currency. They also consented to hefty money judgments totaling over $23 million.
Chen is set to be sentenced on November 14, while Tan’s sentencing is scheduled for February 7, 2025. Each faces a maximum prison sentence of 20 years, with a federal district court judge to determine the final penalties based on U.S. Sentencing Guidelines and other statutory factors.
This case highlights the ongoing battle against sophisticated money laundering operations that fuel the drug trade, posing serious threats to public safety and health.
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