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Chinese national arraigned in California over $36.9 million scam

3 sources · 3 articlesFirst reported Updated ()1
What's new

October 26: CyberScoop reports Joseph Wong allegedly directed Los Angeles launderers who opened shell-company accounts, and cites a Secret Service warning about overseas scam centers.

Merged summary · x-ai/grok-4.7 · rewritten as coverage arrivesSummaries by Vani AI

Zheng Zhao, also reported as Zhen Zhao, faces up to 20 years after extradition from the Netherlands over laundering a Cambodian investment scam.

Prosecutors say a 44-year-old Chinese national laundered proceeds of a Cambodia-linked investment scam that took at least $36.9 million from 174 U.S. victims. BleepingComputer names him Zhen Zhao; The Record and CyberScoop name him Zheng Zhao. He was extradited from the Netherlands, arraigned in California, and faces up to 20 years on a conspiracy-to-commit-money-laundering count filed in August 2025. Victims were reached by calls, texts, social media and dating sites, then sent money to fake trading sites; funds moved through Axis Digital Limited at Deltec Bank in the Bahamas into Tether wallets controlled in Cambodia. He is the ninth person charged. Eight accomplices pleaded guilty; ShengSheng He and Jingliang Su received 51- and 46-month sentences.

Key facts
  • Charged in August 2025; ninth defendant; faces up to 20 years.
  • At least $36.9 million from 174 U.S. victims, prosecutors say.
  • Money went to Axis Digital Limited at Deltec Bank, then Tether.
  • Prosecutors say most funds went to leaders in Sihanoukville.
  • CyberScoop: Joseph Wong allegedly ran Los Angeles shell-account launderers.
  • FBI said 2025 investment-scam complaints exceeded $8.6 billion.
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What each outlet adds

beyond the shared facts
  • BleepingComputerNames him Zhen Zhao and identifies Axis Digital Limited plus the FBI loss figure.
  • The RecordSays most proceeds went to leaders in Sihanoukville and names the sentenced men.
  • CyberScoopReports Joseph Wong ran Los Angeles launderers using shell-company accounts.
Organizations
U.S. Department of JusticeU.S. Secret ServiceDeltec BankDepartment of Justice
Countries
ChinaUnited StatesNetherlandsCambodiaBahamas

Coverage

oldest first · one row per article · UTC
  1. · 4d ago BleepingComputerFirst report

    Chinese man extradited to US over $36.9 million crypto scam

    Zhen Zhao was arraigned in California after extradition from the Netherlands and faces up to 20 years if convicted.

  2. · 4d ago The Record

    Dutch police extradite Chinese national over Cambodian scam laundering

    Zheng Zhao faces up to 20 years after prosecutors say at least $36.9 million from 174 US victims moved through a Bahamas bank into USDT.

  3. · 4d ago CyberScoop

    Chinese national extradited over alleged $37 million investment scam

    Prosecutors say a Cambodia-linked ring used fake trading sites and moved victim money into Tether.