Liu Zhongtian, a Chinese billionaire and the founder of aluminum giant China Zhongwang Holdings Ltd, has been indicted by a U.S. federal grand jury on charges that he was part of a conspiracy to evade nearly $2 billion in tariffs, the Wall Street Journal reported on Wednesday.

The indictment, which was reached in May but not unsealed until this week, alleges the scheme was hatched in 2008 and has continued to the present day, according to the newspaper, which cited prosecutors.

Reuters was not immediately able to confirm the report. China Zhongwang Holdings Ltd did not immediately respond to a request for comment.

The company is accused of using aluminum shipments to inflate its revenue, the Journal reported. Liu faces charges of fraud and money laundering that carry a maximum prison sentence of 465 years, the newspaper said.

An arrest warrant has been prepared for Liu, who is believed to be in China, the Wall Street Journal reported, citing an official with knowledge of the probe.

The indictment was unsealed as U.S. and Chinese trade negotiators attempt to end trade tensions between the two largest economies.