Cartel Crypto Laundering Operation Disrupted by US Authorities

A federal grand jury in Florida has indicted nine individuals accused of laundering drug money through cryptocurrency for Mexican and Colombian cartels.

According to the US Department of Justice, the defendants allegedly operated a “network of black market cryptocurrency launderers and unlicensed money transmitters” to facilitate the scheme. 

Crypto Money Laundering Drug Scheme

The operation, spanning from 2020 to 2023, involved collecting cash from drug sales across US cities, converting the funds into cryptocurrency, and transferring it to digital wallets under their control. The cryptocurrency was then converted back into cash and delivered to cartel leaders in Mexico and Colombia.

According to court documents, Nilson Sneyder Vasquez Duarte, also known as “Sobri” or “Sobrino,” and his co-conspirators managed the transfer of cash and cryptocurrency to black market cryptocurrency exchangers. These exchangers included Hernan Horacio Richard Samper, Maria Eugenia Landeros Rosas, also known 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 cash between cities in the United States.

All nine defendants face charges of conspiracy to commit crypto laundering and operating an unlicensed money-transmitting business. Prosecutors have also charged Duarte, Landeros, Huter, Rincon, Morales, Calvo Bueno, and Alvarez with separate substantive laundering offenses.

This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF targets and dismantles the most significant drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States.

“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 Attorney Markenzy Lapointe said.

Cryptocurrency has become a growing tool for illicit financial activities, including money laundering. OCDETF is actively addressing these challenges by targeting networks that use digital currencies to conceal and transfer drug proceeds across borders, as demonstrated in this case.