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

From El Universal · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Official statement In the courts
  • Carlos Erick Vázquez González pleaded guilty in a Kentucky federal court to conspiracy to commit money laundering involving about $4 million in drug proceeds.
  • Prosecutors said he moved cryptocurrency through a wallet he controlled, converted it into U.S. dollars in Mexico and returned the cash to an intermediary.
  • His sentencing is scheduled for Dec. 17, and he faces a maximum sentence of 20 years in prison.

Carlos Erick Vázquez González admitted in a federal court in Kentucky that he helped move about $4 million in drug proceeds from the United States to Mexico through cryptocurrency.

The 48-year-old Mexican man accepted responsibility for working with a network of “financial intermediaries” that collected drug profits in several U.S. cities. The group then laundered the money and sent it to Mexico using digital currencies, according to court documents.

Vázquez González received nearly $4 million in illicit funds in a cryptocurrency wallet under his control. He quickly moved the money to conceal its 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.

The operation earned Vázquez González an estimated $40,000 commission. He pleaded guilty to conspiracy to commit money laundering. The case was investigated by the Drug Enforcement Administration’s Lexington, Kentucky, office.

A federal court scheduled his sentencing for Dec. 17. He faces a maximum penalty of 20 years in prison.

About this summary

Originally published by El Universal in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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