Former Chinese official admits money laundering program linked to purchase of real estate in Monterey Park – Pasadena Star News
LOS ANGELES – A former Chinese official who has been on the run for more than five years pleaded guilty on Monday to a federal conspiracy charge that he laundered millions of dollars and used some of the stolen funds to buy property in Monterey Park – and he was immediately sentenced to time already served.
Jianjun Qiao’s sentence includes the 24 months he spent in detention in Sweden pending extradition and the 17 months he spent in the United States afterwards, according to documents filed in federal court in Los Angeles.
Qiao, 58, was extradited from Sweden to Los Angeles last year to face charges originally laid seven years ago.
In July 2014, a federal grand jury indicted Qiao and his ex-wife, alleging two separate ploys. An expanded indictment against Qiao issued in December 2018 charged him with conspiracy to commit fraud in immigration matters and the international transport of stolen money, conspiracy to commit money laundering and three counts of participation in financial transactions involving criminal property.
As the manager of a grain warehouse in Zhoukou City, Henan Province, from 1998 to 2011, Qiao laundered millions of dollars in proceeds related to fraudulent transactions through banks in China, Hong Kong. and Singapore. Qiao then used the stolen funds to, among other things, buy the properties in Monterey Park.
Qiao’s ex-wife Shilan Zhao, 58, of Newcastle, Wash., Pleaded guilty in January 2017 to conspiring with her ex-husband to falsely portray himself as still married and to lie about the source of the foreign investment from Zhao, which was required under the EB-5 Immigrant Investor Program to obtain US immigrant visas. She is expected to be sentenced in March.