Officials gathered at the Moakley Federal Courthouse in Boston on Tuesday to announce the results of an international investigation into the alleged laundering of millions of dollars in drug trafficking proceeds through banks, including some in Massachusetts. According to U.S. Attorney Rachael Rollins, the case involves Colombian drug cartels who used the banking system in the United States and elsewhere to launder their proceeds from narcotics. Rollins said the investigation lasted more than five years and involved the infiltration of the criminal organization, which was based in Colombia. Along with Rollins, the announcement involved representatives of the Drug Enforcement Administration, Internal Revenue Service and law enforcement officials from Colombia and Jamaica.Rollins said the 19 suspects will all face charges in the case, which involved the laundering of at least $6 million. Five of the suspects were arrested in Florida and Jamaica on Tuesday and 13 others were arrested in Colombia and Florida last month. “It is alleged that the defendants took part in a conspiracy to move millions of dollars in drug proceeds from Colombian cartels through banks in the United States, including Massachusetts, and elsewhere. In doing so, they allegedly aided in concealing drug trafficking activities and profits,” Rollins said.The network of suspects allegedly used a black market peso exchange in Colombia and a network of bank accounts held by front companies or individuals to conduct its business. “Through money laundering schemes, these criminals repatriate drug proceeds allowing them to reinvest in the production, transportation and distribution of more narcotics. Money is the fuel that allows them to keep the cycle going. By attacking the financial structure, we have a greater impact on neutralizing their ability to spread their poison,” said Brian D. Boyle, Special Agent in Charge of the DEA’s New England Field Division.Evidence photos displayed on either side of the podium during the announcement showed thousands of kilos of cocaine and bags full of cash seized as a part of the investigation. Photos of 19 suspects — including couriers, business owners and brokers — were also on display. Rollins said her office plans to seek the extradition of the suspects to Massachusetts, where they will face charges.
Officials gathered at the Moakley Federal Courthouse in Boston on Tuesday to announce the results of an international investigation into the alleged laundering of millions of dollars in drug trafficking proceeds through banks, including some in Massachusetts.
According to U.S. Attorney Rachael Rollins, the case involves Colombian drug cartels who used the banking system in the United States and elsewhere to launder their proceeds from narcotics. Rollins said the investigation lasted more than five years and involved the infiltration of the criminal organization, which was based in Colombia.
Along with Rollins, the announcement involved representatives of the Drug Enforcement Administration, Internal Revenue Service and law enforcement officials from Colombia and Jamaica.
Rollins said the 19 suspects will all face charges in the case, which involved the laundering of at least $6 million. Five of the suspects were arrested in Florida and Jamaica on Tuesday and 13 others were arrested in Colombia and Florida last month.
“It is alleged that the defendants took part in a conspiracy to move millions of dollars in drug proceeds from Colombian cartels through banks in the United States, including Massachusetts, and elsewhere. In doing so, they allegedly aided in concealing drug trafficking activities and profits,” Rollins said.
The network of suspects allegedly used a black market peso exchange in Colombia and a network of bank accounts held by front companies or individuals to conduct its business.
“Through money laundering schemes, these criminals repatriate drug proceeds allowing them to reinvest in the production, transportation and distribution of more narcotics. Money is the fuel that allows them to keep the cycle going. By attacking the financial structure, we have a greater impact on neutralizing their ability to spread their poison,” said Brian D. Boyle, Special Agent in Charge of the DEA’s New England Field Division.
Evidence photos displayed on either side of the podium during the announcement showed thousands of kilos of cocaine and bags full of cash seized as a part of the investigation. Photos of 19 suspects — including couriers, business owners and brokers — were also on display.
Rollins said her office plans to seek the extradition of the suspects to Massachusetts, where they will face charges.