A Mexican national pleaded guilty yesterday to participating in a two-year, multimillion-dollar trade-based money laundering conspiracy that moved drug trafficking proceeds through Texas to Mexico.
Juan Carlos Lozada, 35, of Mexico, pleaded guilty to conspiracy to commit money laundering, a charge that carries a maximum penalty of 20 years in prison and a $500,000 fine.
The scheme, which ran from 2022 to 2024, involved Lozada and his co-conspirators exchanging millions of dollars in cash for Mexican pesos, which were then laundered through various businesses and financial institutions in Texas and Mexico.
According to court documents, the conspiracy generated over $10 million in proceeds from the sale of narcotics in the United States, which were then laundered through the black-market peso exchange.
Lozada’s guilty plea is the latest development in a sprawling investigation into the black-market peso exchange, which has been linked to several high-profile money laundering cases in recent years.
Lozada is scheduled to be sentenced on May 15, 2024, and faces up to 20 years in prison and a fine of up to $500,000.
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Key Facts
- State: Alabama
- Agency: DOJ USAO
- Category: Drug Trafficking|Fraud & Financial Crimes|Violent Crime
- Source: Official Source â†â€â€ÂÂ
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