Michael J. Randles Sentenced in $1M Money Laundering Scheme

ALEXANDRIA, Va. — Michael J. Randles, 49, a Canadian citizen and permanent resident of Costa Rica, was sentenced today to 48 months in federal prison for his role in a sprawling international money laundering conspiracy tied to a fraudulent ‘pump and dump’ securities scheme. The sentence, handed down by U.S. District Judge Anthony J. Trenga, includes no credit for the 11 months Randles already served in Spanish custody while fighting extradition to the United States.

Randles admitted to running an offshore brokerage and money laundering operation based in San Jose, Costa Rica, under names including Moneyline Brokers, Sandias Azucaradas, and Trinity Asset Services—collectively known as Moneyline. Operating alongside co-conspirator Harold Bailey Gallison II, Randles used the unregistered platform to trade microcap and ‘penny stocks’ through a web of U.S. and offshore accounts, deliberately obscuring ownership with shell companies and falsified identities.

While managing Moneyline’s Costa Rica office, Randles controlled banking transactions, operated an unlicensed securities business in Europe, and opened accounts across multiple jurisdictions to move illicit funds. Prosecutors say the operation was designed not just to profit, but to conceal—funneling money through layers of offshore entities to hide the true source and destination of millions.

Central to the case was the fraudulent promotion and collapse of Bryn Resources Inc., a Colorado-based company that claimed to mine precious metals in Canada but was in fact a shell with no real operations or assets. Randles admitted that Moneyline laundered approximately $1 million in proceeds from the dumping of over 3.5 million shares of Bryn stock, which were liquidated through U.S. and overseas accounts under Moneyline’s control.

Three co-defendants have already faced justice. Gallison, Randles’ partner in the operation, was sentenced to 216 months in prison. Ann Marie Hiskey and Roger G. Coleman each received two years’ probation after pleading guilty to their roles. The coordinated takedown reflects years of cross-agency investigation into offshore financial fraud targeting U.S. markets.

Dana J. Boente, U.S. Attorney for the Eastern District of Virginia; Kenneth A. Blanco, Acting Assistant Attorney General of the Justice Department’s Criminal Division; and FBI Washington Field Office Special Agent in Charge Timothy Slater announced the sentencing. The case was prosecuted by Assistant U.S. Attorney Grace L. Hill and Senior Trial Attorneys N. Nathan Dimock and Michael O’Neill of the Fraud Section. Critical support came from the SEC, FINRA, and the Criminal Division’s Office of International Affairs. Court records are available in Case No. 1:15-cr-178 via PACER or the Eastern District of Virginia’s public docket.

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