March 16 2025

Catching Money Launderers

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Two Texas residents allegedly ran a scheme in which they purchased bottles of prescription medications from illegitimate sources and then sold them to another wholesale distributor who sold them to pharmacies as new. They deposited the proceeds into bank accounts and then used the funds to pay suppliers, including withdrawing $2 million in 240 cash transactions in amounts under $10,000. But the big-ticket money launderer for the week was a former Guinean minister of mines who lives in New York and allegedly received and laundered $8.5 million in bribes. [8/28/17]

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