A ruthless money launderer has been brought to justice in Monmouth County, New Jersey.
Andrew Suarez, 30, of Middletown, New Jersey, was sentenced to 60 months in prison for laundering money on behalf of the Cape Town Zone of Black Axe, a notorious international crime syndicate.
The brazen scheme, which spanned from August 2017 to December 2017, saw Suarez working with conspirators to launder money to entities in the Cape Town area, including an account in the name of Abravoo Trading Company, controlled by a founding member of the Cape Town Zone of Black Axe.
Black Axe members were responsible for widespread internet-based fraud schemes, with Suarez opening up bank accounts in the United States to conceal money obtained through business email compromises and other fraud schemes.
He transferred the proceeds of the fraud schemes to other U.S. bank accounts and wired proceeds to bank accounts in Cape Town, South Africa. To avoid detection, Suarez changed the information on some of his bank accounts, so the accounts listed the name and address of a victim.
The total loss amount attributed to Suarez’s conduct is approximately $525,000.
U.S. Attorney Philip R. Sellinger praised the efforts of the FBI and U.S. Secret Service, which led the investigation. The Monmouth County Prosecutor’s Office also assisted in the case.
Suarez’s guilty plea was accepted before U.S. District Judge Michael A. Shipp, who also sentenced him to three years of supervised release.
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Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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