Michael Venuta, Money Laundering, Michigan 2013

A brazen money laundering scheme has been brought to light in Michigan, with a U.S. citizen convicted of brokering international transactions, announced U.S. Attorney Barbara McQuade.

According to court records, Michael Venuta, a resident of Cabo San Lucas, Mexico, was an associate of individuals involved in drug trafficking in Canada, the United States, and Mexico between April 2011 and December 2012.

Venuta brokered multiple transactions in which drug trafficking proceeds were transmitted or transported across international borders involving the United States, Mexico, and Canada. The transactions were intended to conceal the nature, source, and location of the proceeds.

On July 9, 2013, Venuta pleaded guilty before United States District Judge Bernard A. Friedman. Sentencing is scheduled for October 8, 2013.

Venuta faces a maximum sentence of 46 months in prison under the terms of the plea agreement, which was taken under advisement by the court. He also faces a fine of up to $250,000. In addition, $356,314.00 in drug proceeds was seized and is being forfeited.

U.S. Attorney Barbara McQuade complimented the Special Agents of the DEA responsible for the investigation of the case.

The case is a stark reminder of the ongoing threat of money laundering and its connection to drug trafficking. As a nation, we must remain vigilant in our efforts to combat these crimes and bring perpetrators to justice.

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