Follow @KTAR923 Authorities said that over the duration of the conspiracy, the money laundering organization allegedly transferred over $10 million in drug proceeds through banks.
The U.S. Attorney’s Office said after the bank accounts were set up, Mexican citizens were given money from the money laundering organization and were directed to wire the funds into Mexican bank accounts. In total, Vasquez authorized 42 wire transfers from funnel accounts to bank accounts in Mexico in the amount of $357,883, according to the release.
Vasquez admitted that the funnel bank accounts improved the bank’s sales performance and to knowing “that the funds moving through the accounts were proceeds of unlawful conduct.” The laundering took place between February 2017 and August 2019, and ultimately brought Mexican citizens into the bank where Vasquez would then set up accounts for them to illegally send money to Mexico.
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