In the state of Florida, a suspect was arrested for laundering money through crypto assets and Bank checks to hide the origin of funds associated with the drug business.
According to court documents, Pedro Antonio Aquino – Eufracia is charged with conspiracy related to drug trafficking, as well as money laundering using Bank checks and cryptocurrencies.
In a complaint filed in the district court for the southern district of Florida, U.S. drug enforcement Administration (DEA) special agent drew Gizzi (Drew Gizzi) said that Aquino-Euphrasia is part of a “major international money laundering organization”, whose members are based in new Jersey, Florida, the Dominican Republic and other unnamed jurisdictions.
“The investigation, including examining legally obtained mobile messages and other electronic evidence, revealed that on at least two occasions in April and may 2018, Aquino-Euphrasia agreed to receive large amounts of cash drug proceeds from his co – conspirator and then converted the cash into virtual currency,” he said.
Aquino-Euphrasia received an order from a “high-ranking member” of the organization to Deposit an unnamed amount in cryptocurrency to specific wallets, while the organization hoped to hide details of monetary receipts. The complaint does not specify the dollar value of the cryptocurrency that was used for money laundering or what crypto assets were used in addition to bitcoin.
According to Gizzi, in July 2018, law enforcement officers seized almost $200,000 from accomplices. He claims that “millions of dollars of cash proceeds from the sale of drugs” were laundered by the accused. The arrest warrant for Aquino-Euphrasia was signed by a Federal judge in new Jersey on February 14. In addition to the DEA, the criminal investigation division of the internal Revenue service (IRS) participated in the investigation.
Criminals who launder illegally obtained income are less likely to escape responsibility. Recently in the Netherlands, two citizens were arrested for money laundering through cryptocurrencies, and in the middle of the month, a US citizen was charged with laundering $311 million in BTC for the AlphaBay darknet market.