Underground banker admits running illegal money transfers for Chinese gamblers

Millions flowed through shadowy channels as gamblers exploited loopholes. Now, one operator faces justice—but the network thrives on.

, and Administrator

2025 November 22 . 4:03 PM

1 min read

In this picture we can see a market, in which we can see some stoles and we can see few people are... — In this picture we can see a market, in which we can see some stoles and we can see few people are around.

Underground banker admits running illegal money transfers for Chinese gamblers

An illegal underground banker has admitted running an unlicensed money transfer operation in San Diego. Fan Wang supplied Chinese gamblers with US dollars for casinos in Las Vegas, bypassing strict financial controls. His scheme involved moving millions while evading both Chinese and American regulations.

Wang’s operation relied on a simple but effective system. Customers wanting US dollars would transfer yuan from their Chinese bank accounts to an account he controlled. In return, they received cash in Las Vegas, often introduced to him by VIP casino hosts.

The guilty plea brings one illegal money transfer operation to a close, but the broader network remains active. Underground banking continues to enable large-scale financial crimes, from gambling to drug trafficking. Authorities in both China and North America are still working to dismantle these systems.