DOJ Charges Venezuelan National in $1 Billion Crypto Laundering Scheme
The DOJ charged a Venezuelan national for allegedly laundering $1 billion in illicit funds through a complex network involving bank accounts and crypto exchanges.Summary
The Department of Justice charged 59-year-old Venezuelan national Jorge Figueira with conspiring to launder approximately $1 billion in illicit funds. Prosecutors detailed that Figueira utilized multiple bank accounts, cryptocurrency exchanges, private wallets, and shell companies to move funds across borders, including to high-risk jurisdictions like China, Colombia, Panama, and Mexico.
Figueira allegedly converted funds into cryptocurrency, routed them through a network of digital wallets to obscure their origin, converted them back to dollars via liquidity providers, and then transferred them to bank accounts. FBI Special Agent Reid Davis stated that Figueira sought to conceal the nature of the funds through numerous transfers, potentially facilitating criminal activity globally. US Attorney Lindsey Halligan emphasized the substantial public safety risks associated with such large-scale money laundering.
If convicted, Figueira faces up to 20 years in prison. The article notes this case is part of a broader trend, highlighting that illicit crypto flows reached $154 billion in 2025, with stablecoins becoming the preferred asset for criminals, accounting for 84% of illicit transaction volume that year.
(Source：BeInCrypto)