TLDR: Jorge Figueira allegedly laundered approximately one billion dollars using cryptocurrency and shell companies. The FBI traced funds through multiple cryptoTLDR: Jorge Figueira allegedly laundered approximately one billion dollars using cryptocurrency and shell companies. The FBI traced funds through multiple crypto

Venezuelan National Charged in $1 Billion Cryptocurrency Money Laundering Scheme

TLDR:

  • Jorge Figueira allegedly laundered approximately one billion dollars using cryptocurrency and shell companies.
  • The FBI traced funds through multiple crypto wallets to individuals and businesses in high-risk jurisdictions.
  • Figueira converted cash to cryptocurrency then back to dollars through liquidity providers to conceal origins.
  • If convicted of conspiracy to launder money, Figueira faces a maximum sentence of 20 years in federal prison. 

Jorge Figueira, a 59-year-old Venezuelan national, faces federal money laundering charges in the Eastern District of Virginia. 

The U.S. Department of Justice alleges he orchestrated a scheme involving approximately one billion dollars in illicit funds. 

Authorities claim Figueira used cryptocurrency exchanges, bank accounts, and digital wallets to obscure the origin of these funds.

Extensive Network Utilized Multiple Financial Channels

The criminal complaint outlines how Figueira allegedly established a complex laundering operation spanning multiple jurisdictions. 

According to court documents, he employed various bank accounts and cryptocurrency exchange platforms to move money. 

Shell companies were also part of the alleged infrastructure used to process the illicit funds.

The FBI tracked approximately one billion dollars through cryptocurrency wallets linked to Figueira’s operation. 

“The FBI has identified approximately a billion dollars’ worth of cryptocurrency that was passed through crypto wallets utilized by Figueira,” said Reid Davis, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division. 

Davis noted that Figueira enlisted subordinates and conducted numerous transfers to conceal the funds’ nature.

The alleged laundering process involved several conversion steps to maintain anonymity. Figueira would reportedly convert cash to cryptocurrency before directing it through a series of digital wallets. 

Subsequently, liquidity providers would exchange the cryptocurrency back to dollars. The converted funds then moved through Figueira’s bank accounts before reaching the intended recipients.

High-Risk Jurisdictions Received Transferred Funds

Financial records show the majority of incoming funds originated from cryptocurrency trading platforms. Meanwhile, outbound transfers went to various entities in the United States and abroad. 

Court filings specifically mention high-risk jurisdictions, including Colombia, China, Panama, and Mexico as destination points for these funds.

U.S. Attorney Lindsey Halligan emphasized the gravity of the charges in a statement. “This case involves the alleged laundering of approximately a billion dollars – a scale of criminal conduct that poses a profound threat to financial systems,” she said. 

She noted that those who move illicit funds in the billions should expect to be held fully accountable.

The Eastern District of Virginia has jurisdiction over this case, with Assistant U.S. Attorney Catherine Rosenberg handling prosecution. Federal authorities continue investigating the full scope of the alleged laundering network.

Figueira faces a maximum sentence of 20 years in federal prison if convicted. However, actual sentencing would be determined by a federal district court judge. 

The court will consider U.S. Sentencing Guidelines and other statutory factors when deciding any potential sentence.

The post Venezuelan National Charged in $1 Billion Cryptocurrency Money Laundering Scheme appeared first on Blockonomi.

Market Opportunity
MyShell Token Logo
MyShell Token Price(SHELL)
$0.04142
$0.04142$0.04142
-3.78%
USD
MyShell Token (SHELL) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Republic Europe Offers Indirect Kraken Stake via SPV

Republic Europe Offers Indirect Kraken Stake via SPV

Republic Europe launches SPV for European retail access to Kraken equity pre-IPO.
Share
bitcoininfonews2026/01/30 13:32
cpwrt Limited Positions Customer Support as a Strategic Growth Function

cpwrt Limited Positions Customer Support as a Strategic Growth Function

For many growing businesses, customer support is often viewed as a cost center rather than a strategic function. cpwrt limited challenges this perception by providing
Share
Techbullion2026/01/30 13:07
MoonBull, Brett, and Dogwifhat Compared

MoonBull, Brett, and Dogwifhat Compared

The post MoonBull, Brett, and Dogwifhat Compared appeared on BitcoinEthereumNews.com. Crypto News 18 September 2025 | 05:15 Explore MoonBull Whitelist, Brett token, and Dogwifhat price action. Learn why MoonBull’s best crypto whitelist is live now with big FOMO potential. Ever wondered why meme coins stir so much hype in the crypto jungle? Traders, students, and even seasoned blockchain builders keep chasing the next peanut pile of gains, hoping their bags turn into bull-sized fortunes overnight. In today’s scene, names like Brett and Dogwifhat grab the spotlight, while MoonBull lights up conversations with its whitelist buzz. Each of these projects carries its own flavor, yet the energy they generate reveals how meme culture keeps shaking financial markets. Brett became a crowd darling by spinning internet humor into tokenomics. Dogwifhat turned playful memes into market waves, pulling traders in with viral appeal. Both show how lighthearted memes can fuel serious capital flow. Yet the chatter doesn’t stop with them. MoonBull now appears, sparking urgency with its whitelist, creating noise louder than a hippo splash in shallow waters. MoonBull’s whitelist offering exclusive early perks, the crypto crowd feels the tug of FOMO stronger than ever. This first-come, first-served invite could be a rare second shot at a moonshot. MoonBull Whitelist is Live: Your Chance to Join the Best Crypto Whitelist MoonBull ($MOBU) has entered the arena not as just another meme coin but as a project built with the precision of Ethereum’s secure backbone. Designed for those chasing explosive upside, MoonBull stacks its chips on elite staking rewards and secret token drops. Its whitelist isn’t simply a sign-up form; it’s a ticket into Stage One of the presale, where entry comes at the lowest price possible and doors swing open to bonus allocations. Being whitelisted is like being a penguin in the front row of a bull stampede. Whitelist members aren’t just joining…
Share
BitcoinEthereumNews2025/09/18 10:17