A federal grand jury in Florida has indicted 9 people accused of laundering drug cash by way of cryptocurrency for Mexican and Colombian cartels.
In line with the US Division of Justice, the defendants allegedly operated a “network of black market cryptocurrency launderers and unlicensed money transmitters” to facilitate the scheme.
Crypto Cash Laundering Drug Scheme
The operation, spanning from 2020 to 2023, concerned amassing money from drug gross sales throughout US cities, changing the funds into cryptocurrency, and transferring it to digital wallets underneath their management. The cryptocurrency was then transformed again into money and delivered to cartel leaders in Mexico and Colombia.
In line with court docket paperwork, Nilson Sneyder Vasquez Duarte, also referred to as “Sobri” or “Sobrino,” and his co-conspirators managed the switch of money and cryptocurrency to black market cryptocurrency exchangers. These exchangers included Hernan Horacio Richard Samper, Maria Eugenia Landeros Rosas, also referred to as “Yeni,” Raimundo Carlos Rodriguez Huter, Mayccol Hejeile Morales, and Hernan Julian Calvo Bueno.
Sergio Fernando Vargas Alvarez, Juan Carlos Riano Muentes, Jesus Ivan Rincon Martinez, Morales, and Calvo Bueno acted as couriers, transporting money between cities in the US.
All 9 defendants face prices of conspiracy to commit crypto laundering and working an unlicensed money-transmitting enterprise. Prosecutors have additionally charged Duarte, Landeros, Huter, Rincon, Morales, Calvo Bueno, and Alvarez with separate substantive laundering offenses.
This case is a part of an Organized Crime Drug Enforcement Job Forces (OCDETF) investigation. OCDETF targets and dismantles essentially the most vital drug traffickers, cash launderers, gangs, and transnational legal organizations that threaten the US.
“This case highlights how organized crime adapts to exploit technology for illegal activities. We remain focused on dismantling these networks and holding criminals accountable,” US Legal professional Markenzy Lapointe mentioned.
Cryptocurrency has develop into a rising instrument for illicit monetary actions, together with cash laundering. OCDETF is actively addressing these challenges by concentrating on networks that use digital currencies to hide and switch drug proceeds throughout borders, as demonstrated on this case.
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