Colombian Man Indicted on $135M Money Laundering Charges

A Colombian man has been accused of laundering approximately $135 million in drug proceeds through cryptocurrency and bank accounts. William Andres Holguin Mendez, 40, was indicted on a single count of conspiracy to commit money laundering.

The indictment alleges that the scheme involved transferring money from illegal narcotics sales into an account at a U.S.-based cryptocurrency exchange. The funds were then converted into stablecoin and distributed among 207 Colombian bank accounts.

Holguin Mendez was arrested in August 2023, after investigators identified numerous bank accounts linked to shell corporations that received money from illicit activities. The money laundered through his account between March 2023 and May 2024 totals approximately $135 million.