ATLANTA - A Colombian woman who directed a sophisticated network of couriers to scrub more than $31 million in drug money through the U.S. banking system pleaded guilty to money laundering charges on Monday in federal court.
Tourist visas and shell companies
What we know:
Valentina Forero Álvarez, 33, of Armenia, Colombia, led a transnational criminal organization that utilized non-citizens on tourist visas to collect and deposit bulk cash across Georgia and 14 other states.
According to prosecutors, Forero Álvarez’s scheme involved instructing couriers to fly from Colombia to the United States. Once they arrived, they picked up large sums of cash and deposited the funds into bank accounts tied to shell companies or businesses in the unregulated currency exchange market.
Investigators determined that the accounts used by Forero Álvarez’s couriers received more than $31 million in cash deposits. In North Georgia alone, approximately $2.9 million was funneled through the system. During the probe, federal agents seized more than $4.8 million in suspected drug proceeds.
The network's reach was expansive, with couriers making deposits in states ranging from New York and Florida to California and Arizona.
Network worked to ‘launder millions of dollars of drug proceeds’
What they're saying:
"Forero Álvarez presided over an international network that exploited our financial system to launder millions of dollars of drug proceeds," said U.S. Attorney Theodore S. Hertzberg.
"This case demonstrates the relentless commitment of Homeland Security Investigations to dismantle transnational criminal organizations that threaten the integrity of our financial system and the safety of our communities," said Steven N. Schrank, Special Agent in Charge of HSI in Georgia and Alabama.
Schrank credited the disruption of the network to "outstanding collaboration" between federal, state, and local law enforcement.
When is sentencing?
What's next:
Forero Álvarez remains in federal custody. While a sentencing date has not yet been set by U.S. District Judge Steven D. Grimberg, she faces a maximum of 20 years in prison, a fine of up to twice the value of the laundered funds, and forfeiture of property involved in the crimes.
The Source: The details in this article were provided by the U.S. Attorney’s Office for the Northern District of Georgia.