SAN DIEGO – Ziyue Zhao, aka “Chris Zhao,” pleaded guilty in federal court today and admitted he participated in a $65 million fraud and money laundering scheme targeting elderly victims across the United States, including in San Diego. Zhao, a Chinese national, is the first defendant to plead guilty following a nationwide takedown in August 2025 of 28 alleged members of a Chinese organized crime ring.
Source: U.S. Department of Justice