McALLEN, Texas – In a shocking turn of events, Robert Ricardo Maldonado, 49, of Weslaco, has admitted to his role in a massive money laundering scheme.
Maldonado, a former deputy with the Hidalgo County Sheriff’s Office, pleaded guilty to one count of conspiracy to commit money laundering, announced U.S. Attorney Kenneth Magidson.
According to court documents, from 2001 to November 2013, Maldonado was involved in transporting currency derived from the distribution of narcotics from various destinations, including Detroit, Chicago, Birmingham, and elsewhere to the Rio Grande Valley.
Maldonado was paid a percentage of the total amount of the currency transported and then utilized these funds to purchase various properties and assets.
U.S. District Judge Randy Crane, who accepted the guilty plea, has set sentencing for July 21, 2014. At that time, Maldonado faces up to 20 years in prison, along with a potential fine up to $500,000 or twice the amount of the proceeds.
The investigation leading to the charges was conducted by the Drug Enforcement Administration, Internal Revenue Service – Criminal Investigation, and Texas Department of Public Safety. Assistant United States Attorney James Sturgis is prosecuting the case.
As the investigation unfolds, it remains to be seen how far-reaching the consequences will be for Maldonado and those involved in the scheme.
Mandatory Facts: Defendant’s Real Full Name: Robert Ricardo Maldonado, Exact Criminal Charges: Conspiracy to commit money laundering, City and State: McALLEN, Texas, Exact Date: 2013, Sentence or Outcome: Up to 20 years in prison and a potential fine up to $500,000.
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Key Facts
- State: Texas
- Category: Drug Trafficking|Fraud & Financial Crimes|Violent Crime
- Source: DOJ Press Release â†â€â€
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