9 Indicted In US For Laundering Drug Money Via Cryptocurrency

United States has indicted nine persons for their involvement in a major money laundering scheme where cryptocurrencies were used to launder drug money from cartels in Mexico and Colombia.

The US attorney’s office in Florida said the nine individuals conspired to launder American currency and operated an unlicensed money-transmitting business on Thursday.

“According to the superseding indictment, between 2020 and mid-2023, nine defendants and their co-conspirators worked together to pick up bulk cash, derived from drug sales in various cities throughout the United States. They would then coordinate to exchange the cash for cryptocurrency that was sent to wallets controlled by the defendants or their co-conspirators. The cryptocurrency would then be converted into cash and delivered to cartel leaders in Mexico and Colombia.

“As alleged in court documents, Nilsson Snyder 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 acted as couriers, physically transporting the cash between U.S. cities.

“All nine defendants are charged with one count of conspiracy to commit money laundering and one count of the operation of an unlicensed money-transmitting business. Duarte, Landeros, Huter, Rincon, Morales, Calvo Bueno, and Alvarez are also charged with substantive money laundering counts,” the statement from the US attorney’s office read.

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The court documents also revealed that the accused individuals also patronised black market exchangers with some participants acting as physical couriers.