2 Men Sentenced for Laundering Drug Proceeds as Part of Global Organization

A federal judge in Boston has sentenced two individuals involved in an international money laundering and drug trafficking organization.

Thong Nguyen, 31, of Everett, Massachusetts, was sentenced to four months in prison, to be followed by one year of home detention and two years of supervised release. According to the U.S. Attorney’s Office, Nguyen pleaded guilty to money laundering conspiracy in August 2024.

Prosecutors also said Zhang’s organization charged a fee to launder illicit funds, which were subsequently traced from the organization to locations around the world, including China, Hong Kong, Cambodia, India, and Brazil.

According to a sentencing memorandum filed by prosecutors in June, undercover agents investigating the case were able to infiltrate Zhang’s organization by posing as criminal money launderers with access to cryptocurrency.

Prosecutors asked the judge to sentence Chen to 71 months in prison and Nguyen to 30 months in prison, according to the court document.

In July 2022, Chen, acting on behalf of Zhang, delivered $50,000 in drug proceeds to undercover agents, the U.S. Attorney’s Office stated. Zhang then converted the money to a cryptocurrency called Tether and laundered the funds back to criminal organizations.

Zhang also dispatched Chen to deliver 5 kilograms of cocaine from New York City to Boston, according to the U.S. Attorney’s Office.

Nguyen laundered or attempted to launder more than $213,000 in marijuana trafficking profits in 2022 by passing the money to Zhang’s organization, which converted it to Tether and returned it to the traffickers, the U.S. Attorney’s Office stated.

The Epoch Times contacted Chen’s and Nguyen’s lawyers for comment but received no response by publication time.

Of the 12 defendants charged, several others have entered guilty pleas or received sentences.