Mexican man pleads guilty to laundering $4 million in drug proceeds through cryptocurrency

Carlos Erick Vázquez González, a 48-year-old Mexican national, pleaded guilty in Kentucky to helping launder about $4 million in drug proceeds through cryptocurrency, the U.S. Justice Department said.

Court documents describe Vázquez González as part of a network of “financial intermediaries” that collected drug-trafficking proceeds in several U.S. cities. The network then laundered the money and sent it to Mexico using cryptocurrency.

According to the documents, Vázquez González received nearly $4 million from the illegal activity in a cryptocurrency wallet under his control. He moved the funds quickly to conceal their origin, then sold the cryptocurrency for U.S. dollars in Mexico. He delivered the cash to the intermediary who had arranged the collection of the drug proceeds in the United States.

Vázquez González received an estimated $40,000 commission for his role. He pleaded guilty to conspiracy to commit money laundering in federal court in Kentucky. His sentencing hearing is scheduled for Dec. 17, and he faces a maximum sentence of 20 years in prison.

The DEA’s Lexington, Kentucky, office investigated the case.