Two defendants pleaded guilty in a transnational fraud and money laundering scheme targeting elderly victims across the U.S. and Canada. Prosecutors said victims were instructed to send money via wire transfers and cryptocurrency into accounts controlled by the conspiracy.

Two Chinese nationals pleaded guilty in the District of Rhode Island to charges arising from a transnational fraud and money laundering scheme that targeted elderly victims in the United States and Canada. Prosecutors alleged the conspiracy directed victims to send money as part of the fraud, using multiple payment channels controlled by the defendants’ network. In particular, the government said victims were instructed to transfer funds through wire transactions and also to provide cryptocurrency to accounts under the conspirators’ control. The alleged structure shows how fraud operations can combine international victim targeting with technology-enabled payment methods to move value quickly and reduce the likelihood that victims can recover funds. Prosecutors characterized the scheme as involving coordinated steps to persuade victims to remit money, and they alleged the money laundering aspect of the case was tied to how proceeds were handled and routed. By pleading guilty, the defendants accepted responsibility for their roles in the conspiracy’s fraudulent conduct and the financial mechanisms used to process the proceeds. The case highlights the cross-border nature of modern fraud targeting older adults, as well as the frequent use of both traditional financial channels (wires) and cryptocurrency to facilitate the theft and laundering process.