A Queens woman has been charged with masterminding a nefarious "pig butchering scam" that conned victims out of approximately $2.1 million. The scam involved swindling individuals through online relationships under false pretenses followed by luring them into bogus investments. Tiffany Yang, 35, of Bayside, now faces a litany of charges including grand larceny and criminal possession of stolen property, according to the Queens District Attorney's office.
In a detailed announcement, District Attorney Melinda Katz elucidated on the operation's modus operandi, where scammers gained immense trust of unsuspecting victims before funneling them towards sham investment opportunities, encouraging victims to pour money into carefully engineered fake websites. These platforms initially showed fictional gains, pulling victims deeper into the scam, convincing them to commit more funds. "Pig butchering scams are organized, calculated and cruel," Katz revealed in a press release. Before they had a chance to withdraw their investments, the schemes were exposed.
The investigation intensified after a victim reported first connecting with a suspect via Facebook Messenger, later shifting the conversation to WhatsApp, an end-to-end encrypted platform. Yang’s alleged scam involved a website designed to closely resemble Spread Ex Ltd., a legitimate financial services firm. Victims were persuaded to transfer substantial amounts of money through multiple wire transfers, ultimately losing access to their accounts.
Yang's arrest was precipitated by an investigation that traced wire transfers from a victim to a JP Morgan Chase account linked to a Flushing address used by numerous alleged shell businesses. As documented by the Queens DA's office, the address associated with these businesses, and wire transfers that were later found to be fraudulent, was registered to a condominium owned by the defendant. An IP address used in connection to these transactions led detectives straight to Yang's Bayside door.
During a court-authorized search, authorities uncovered a collection of items that appeared to be tools commonly associated with fraudulent activity, including bank receipts, forged documents, and a cache of passports, all of which strengthened the case against Yang. The search also turned up an unloaded .45-caliber pistol, leading to Yang’s initial arrest on firearm possession charges. Additional charges were filed as investigators uncovered the scope of the alleged financial fraud, which could carry a maximum sentence of 25 years if she is convicted on the top count.
The case is being prosecuted by Assistant District Attorneys from the Cybercrime Unit and Major Economic Crimes Bureau, under the supervision of senior officials in the Queens District Attorney's office.
