Partner at a Chongqing law firm goes missing, possibly involved in a 210 million yuan stablecoin bribery and money laundering case

Mars Finance reports that multiple independent sources have confirmed to Caixin that the founding partner and director of a law firm in Chongqing has recently been taken away by relevant authorities. This lawyer is Peng Jing, the founding partner and director of Chongqing Jing Sheng Law Firm. The public speculates that she has intricate connections with high-ranking officials who have recently fallen from power. According to sources, lawyers from the firm are usually not detained by the Central Commission for Discipline Inspection, “but Peng Jing’s network is very extensive, and her cases involve too many people.” On March 20, 2026, Chongqing Mayor Hu Henghua was investigated and reported, and on April 17, Chongqing Municipal Party Standing Committee member and Liangjiang New Area Party Secretary Luo Lin was also announced to have fallen from power. Local Chongqing political and business circles suggest that Hu Henghua and Luo Lin’s downfalls are related to bribe money laundering through stablecoins, and “Peng Jing may be a key figure, helping others launder money under the guise of collecting legal fees.” An insider said that in Hu Henghua’s case, Lin Xiucheng’s son-in-law, Lin Kechuang, gave Hu Henghua 30.8 million USDT (approximately 210 million RMB, with 10 million as exchange fees). After Hu Henghua was investigated, cold wallets were controlled, and authorities traced the fund flows of six other cold wallets held by Lin Kechuang; among them, a transfer of 15.5 million USDT coincided with Hu Henghua’s transfer, which Lin Kechuang claimed was sent to Luo Lin. Luo Lin was taken away by authorities on April 14, 2026, and his home was searched on the evening of April 15, but the cold wallet was not found. Subsequently, authorities found Luo Lin’s cold wallet at a third party’s home.