Caixin: Peng Jing, Partner at a Chongqing Law Firm, Goes Missing; Possibly Linked to Money Laundering Case Involving 30.8 Million USDT and Mayor Hu Henghua

According to Caixin, multiple independent sources confirmed to Caixin that the founding partner and director of a Chongqing-based law firm was recently taken away by relevant authorities. The lawyer in question is Peng Jing, founding partner and director of Chongqing Jing Sheng Law Firm. It is speculated externally that she is intricately linked to the aforementioned high-ranking officials who have fallen from grace. According to analysis by insiders, lawyers are typically not taken into custody by the Central Commission for Discipline Inspection (CCDI); “Peng Jing’s network is exceptionally extensive, and her case implicates numerous individuals.” On March 20, 2026, Hu Henghua, Mayor of Chongqing, was announced to be under investigation; on April 17, Luo Lin, member of the Chongqing Municipal Party Committee Standing Committee and Secretary of the Liangjiang New Area Party Working Committee, was also publicly announced to be under investigation. According to information circulating among Chongqing’s political and business circles, Hu Henghua and Luo Lin’s downfalls are related to accepting bribes and money laundering via stablecoins—and “Peng Jing may be a key figure in this scheme, laundering money under the guise of collecting legal fees.” According to insiders, in Hu Henghua’s case, Lin Xiucheng’s son-in-law Lin Kechuang transferred 30.8 million USDT (approximately RMB 210 million, including RMB 10 million in exchange fees) to Hu Henghua. After Hu Henghua was placed under investigation, his cold wallet was seized, and authorities subsequently traced the fund flows from six additional cold wallets held by Lin Kechuang. One such transfer—15.5 million USDT sent simultaneously with Hu Henghua’s transaction—was reportedly transferred to Luo Lin, according to Lin Kechuang. Luo Lin was taken into custody by relevant authorities on April 14, 2026, and his residence was searched on the evening of April 15—but the cold wallet was not found. Later, authorities located Luo Lin’s cold wallet at a third party’s residence.