Man Arraigned in Binghamton for Alleged $2 Million Gift Card Money Laundering Scheme

Jun Wang, a 62-year-old Chinese national and lawful permanent resident of the United States who has predominantly resided in Florida and Texas over the past 26 years, recently faced arraignment in Binghamton, New York.

The indictment of Wang was revealed by United States Attorney Carla B. Freedman and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI).

The allegations against Wang state that between June 2019 and June 2021, he received gift cards that were obtained from victims of wire fraud schemes in the Northern District of New York and other locations, amounting to over $2 million. Wang allegedly used these fraudulently obtained gift cards at Walmart and Sam’s Club stores in Florida and several other states to disguise the source and nature of the funds acquired from the fraud victims.

Wang, if found guilty, could face a maximum sentence of 20 years in federal prison, a fine up to twice the value of the allegedly laundered funds (amounting to $4 million in this specific case), and a term of supervised release extending up to 3 years. The severity of Wang's sentence, if convicted, will be determined by a judge based on several factors, including the U.S. Sentencing Guidelines.

Following his arrest at Los Angeles International Airport a few weeks ago, Wang was arraigned in Binghamton, New York, before Magistrate Judge Miroslav Lovric after being transported to the Northern District of New York. Judge Lovric ruled for Wang to be detained pending trial, which is anticipated to occur in 2025 before Senior United States District Judge David N. Hurd.

It's important to note that the charges against Wang are accusations at this stage, and he is presumed innocent unless proven guilty in a court of law.

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The FBI is actively investigating this case, with Assistant U.S. Attorneys Tamara B. Thomson and Michael F. Perry leading the prosecution.