Businessman Zhenli Ye Gon sentenced to 15 years for money laundering

A federal judge has sentenced businessman Zhenli Ye Gon to 15 years and one day in prison for illicit financial operations. The sentence also includes a fine of 140,400 pesos, and Ye Gon will not be eligible for parole or conditional sentencing. His political and civil rights have been suspended, and he received a formal reprimand.

The ruling was based on evidence presented by the Federal Public Ministry, specifically the Specialized Prosecutor's Office in Organized Crime (FEMDO) in coordination with the Federal Prosecutor's Office in Mexico City. The case involved Zhenli Ye Gon's probable participation in illicit financial operations.

According to the Attorney General's Office (FGR), the sentence was confirmed on July 25, 2019, by a federal appellate court. Ye Gon had pursued an appeal, but it was denied. He is currently detained at Cefereso Number 1, known as "Altiplano," in the State of Mexico.

The charges trace back to 2008 when the Financial Intelligence Unit reported the businessman. As the legal representative and shareholder of Constructora Inmobiliaria Federal, S.A. de C.V., Ye Gon allegedly conducted various cash currency transfers totaling approximately $33.61 million USD to tax havens. These actions were intended to conceal the illicit origin of funds derived from the sale of chemicals. He also made transfers to a company previously implicated in irregular aircraft purchases and aviation services. In addition to this criminal case, Ye Gon faces other charges.