Cartel Crypto Laundering Operation Disrupted by US Authorities
A federal grand jury in Florida has indicted nine individuals accused of laundering money for Mexican and Colombian drug cartels through cryptocurrency.
According to the U.S. Department of Justice, the defendants allegedly operated a “network of black market cryptocurrency launderers and unlicensed money transmitters” to facilitate the scheme.
Cryptocurrency money laundering drug scheme
The operation, which ran from 2020 to 2023, involved collecting cash from drug sales in cities across the United States, converting the funds into cryptocurrency, and then transferring them to digital wallet under their control. The cryptocurrency was then converted back into cash and delivered to cartel leaders in Mexico and Colombia.
according to court documentsNilson Sneyder Vasquez Duarte, also known as “Sobri” or “Sobrino,” and his co-conspirators moved cash and cryptocurrency to black market cryptocurrency traders. These exchangers include Hernan Horacio Richard Samper, Maria Eugenia Landeros Rosas (also known as “Yeni”), Raimundo Ca Los Rodriguez Huter, Michael Hejle Morales and Hernan Julian Calvo Bueno.
Sergio Fernando Vargas Alvarez, Juan Carlos Riano Muentes, Jesus Ivan Rincon Martinez, Morales and Calvo ·Bueno served as a courier, transporting cash between American cities.
All nine defendants face criminal conspiracy charges Cryptocurrency money laundering Operating an unlicensed money transfer business. Prosecutors also separately charged Duarte, Landeros, Huth, Rincon, Morales, Calvo Bueno and Alvarez with substantive money laundering crimes.
The case is part of an investigation by the Organized Crime Drug Enforcement Task Force (OCDETF). OCDETF targets and disrupts the most significant drug traffickers, money launderers, gangs and transnational criminal organizations that threaten the United States.
“This case highlights how organized crime leverages technology to conduct illegal activities. We remain focused on dismantling these networks and holding criminals accountable,” U.S. Attorney Markenzy Lapointe explain.
Cryptocurrencies have become a growing tool for illegal financial activities, including money laundering. As this case illustrates, OCDETF is actively addressing these challenges by targeting networks that use digital currencies to hide and move drug proceeds across borders.
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