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Xizhi Li, a Chinese national and naturalized United States citizen, pleaded guilty yesterday to his involvement in a conspiracy to launder at least $30 million in drug proceeds on behalf of foreign drug-trafficking organizations.[1] Li played a leadership role within a years-long conspiracy to use a foreign casino, foreign and domestic front companies, foreign and domestic bank accounts, false passports, and other false identification documents to launder money on behalf of transnational drug-trafficking organizations.[2]
[1] Leader of Transnational Money-Laundering Network Pleads Guilty to Aiding Drug-Trafficking Organizations, While Co-Conspirator is Sentenced, DEPARTMENT OF JUSTICE, https://www.justice.gov/opa/pr/leader-transnational-money-laundering-network-pleads-guilty-aiding-drug-trafficking, Aug. 3, 2021.
[2] Id.