Thread by @ninaandtito

Owners of Underground, International Financial Institutions Plead Guilty to Operating Unlicensed Money Transmitting Business
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@thespybrief @911CORLEBRA777
justice.gov/usao-sdca/pr/o…

Ask yourselves: “Who does this benefit?”
“Han and Zhang would collect U.S. dollars (in cash) from various third-parties in the United States and deliver that cash to a customer, typically a gambler from China who could not readily access cash in the United States due to capital

... controls that limit the amount of Chinese yuan an individual can convert to foreign currency at $50,000 per year.”

If you answered, “the casinos,” you’re right.
“Han and Zhang further admitted today that they were regularly introduced to customers by casino hosts, who sought to increase the gambling play of the casino’s customers. By connecting cash-starved gamblers in the United States with

... illicit money transmitting businesses, like those operated by Han and Zhang, the casinos increased the domestic cash play of their China-based customers.”

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““Criminals keep trying to find ways to circumvent our financial system by laundering money,” said Tara Sullivan, Special Agent in Charge of IRS Criminal Investigation Las Vegas. “Unfortunately for Han and Zhang, the IRS Criminal Investigation Las Vegas...

... Financial Crimes Task Force was relentless in seeking out and disrupting their underground banking network and will continue to work with our law enforcement partners to uphold anti-money laundering laws”.”