Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.

15 Charged for converting Drug Cartels’ Cash into Cryptocurrency in U.S.

CryptotimesCryptotimes2024/11/22 14:33
By:Pari ShuklaVaibhav Jha

A Federal Grand Tribunal in Florida charged nine defendants and their six associates for an alleged conspiracy to convert U.S. dollars, proceeds from drug operations of Mexican cartels, into different cryptocurrencies.

According to a press released issued by the U.S. Department of Justice , the federal grand tribunal in Southern district of Florida on November 20 charged the individuals for their alleged role on behalf of drug conglomerate cartels in Mexico and Colombia.

According to reports, between the year 2020 and mid-2023, nine defendants and their co-conspirators worked together to pick up the bulk of cash, derived from drug sales in different cities all around the United States. The press release further stated that the accused would then coordinate to exchange the cash for cryptocurrency and then circulate them to wallets restrained by the suspects or their cooperator.

The cryptocurrency would then be transformed into money and after that, it would be forwarded to crew leaders in Mexico and Colombia.

As alleged in court documents, Nilson Sneyder Vasquez Duarte, a/k/a “Sobri,” a/k/a “Sobrino,” (Duarte), 34, and co-conspirators coordinated the delivery of cash and cryptocurrency to black market cryptocurrency exchangers, including to Hernan Horacio Richard Samper (Samper), 59, Maria Eugenia Landeros Rosas, a/k/a “Yeni,” (Landeros), 52, Raimundo Carlos Rodriguez Huter (Huter), 40, Mayccol Hejeile Morales (Morales), 36, and Hernan Julian Calvo Bueno (Calvo Bueno), 34. Sergio Fernando Vargas Alvarez (Alvarez), 37, Juan Carlos Riano Muentes (Riano), 36, Jesus Ivan Rincon Martinez (Rincon), 45, Morales, and Calvo Bueno also played a role as couriers, physically transporting the cash between U.S. cities.

All nine suspects are charged with one count of sedition to commit money laundering and one count of the operation for illegitimate money transferring business. Duarte, Landeros, Huter, Rincon, Morales, Calvo Bueno, and Alvarez are also charged with essential money laundering counts.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Crypto Market Sees Promising Gains and Opportunities for Digital Assets

In Brief The cryptocurrency market is recovering with notable gains in several digital assets. Dogecoin and Ondo show promising price increases, signaling potential market confidence. Solana and Cardano are also experiencing upward trends, attracting investor interest.

Cointurk2025/04/02 05:33
Crypto Market Sees Promising Gains and Opportunities for Digital Assets

Institutional Investors Pour Millions into Digital Assets as Market Signals Recovery

In Brief Institutional investors invested $226 million in digital assets last week. Bitcoin products saw the largest inflow, followed by a recovery in altcoins. Regional trends show significant inflows from the U.S., Switzerland, and Germany.

Cointurk2025/04/02 05:33
Institutional Investors Pour Millions into Digital Assets as Market Signals Recovery