$135M Laundered Through Shell Companies, Crypto Exchanges, Stablecoins
A Colombian national has been indicted for allegedly laundering $135 million in illicit funds through shell-company bank accounts, cryptocurrency exchanges, and stablecoins. The investigation began in August 2023, when FBI agents started examining people suspected of moving illicit proceeds internationally from the Greenville area.
The indictment alleges that William Andres Holguin Mendez controlled each account at critical stages of the alleged operation. He is accused of directing funds into a United States-based cryptocurrency exchange, where they were converted into stablecoins before being transferred to a foreign platform.
From there, the digital assets were converted back into Colombian pesos and distributed among 207 bank accounts in Colombia. The indictment contains one conspiracy count and carries a maximum sentence of 20 years in federal prison if convicted.