International Money Manager Pleads
NOV 21 – JOHN P. GILBRIDE, Drug Enforcement Administration Special Agent in Charge of the New York Field Division and MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York announced that MARTIN TREMBLAY pleaded guilty to violating United States money-laundering laws by agreeing to launder hundreds of thousands of dollars worth of narcotics proceeds as part of a federal sting operation on November 20, 2006. He pleaded guilty before the Honorable JOHN F. KEENAN, United States District Judge for the Southern District of New York.
“Money laundering is a crime. DEA and our law enforcement partners are committed to not only ridding the streets of drugs and those who traffick drugs, but finding and stopping the illegal transfer of drug proceeds. When law enforcement takes away the profit from the drug traffickers, we know we have made a dent in their distribution business and taken away what they want most- their money.” SAC Gilbride commended the diligent work of the Organized Crime Drug Enforcement Strike Force and the United States Attorney’s Office Southern District of New York.
According to the Indictment to which TREMBLAY pleaded guilty: TREMBLAY, a 43 year-old Canadian national, was the former President and Managing Director of the Bahamas-based investment firm Dominion Investments. Prior to TREMBLAY’s arrest on January 20, 2006, Dominion Investments was an investment services provider and financial advisor incorporated in the Commonwealth of the Bahamas, licensed by the Securities Commission of the Bahamas, and a member of the Bahamas Financial Services Board. According to its website, Dominion Investments was a “leader in the offshore financial services” market, offering clients “the knowledge and expertise they need to effectively use international tax planning, asset protection, and other wealth preservation techniques.”
TREMBLAY was captured as a result of an undercover sting operation conducted by the New York Organized Crime Drug Enforcement Strike Force (the “Strike Force”) in 2005. The Strike Force is comprised of agents and officers of the United States Drug Enforcement Administration; the Federal Bureau of Investigation; the Department of Homeland Security, Bureau of Immigration and
Customs Enforcement; the United States Internal Revenue Service, Criminal Investigative Division; the United States Marshals Service; the New York City Police Department; and the New York State Police. During the investigation, the Strike Force videotaped a meeting between TREMBLAY and undercover agents from the Internal Revenue Service, in which they discussed the laundering of large amounts of money earned from narcotics sales. Approximately $220,000 was eventually wire transferred by federal agents to Dominion Investments-related accounts. During his plea before Judge KEENAN, TREMBLAY admitted that he met with undercover agents in March 2005 in Manhattan, who requested his assistance to launder what were represented to be the proceeds of narcotics trafficking. TREMBLAY admitted that, in May 2005, he received a wire transfer from a business the undercover agents said they used to launder the narcotics trafficking proceeds.
The offense to which TREMBLAY pleaded guilty carries a maximum prison sentence of 20 years and a maximum fine of $500,000. TREMBLAY is scheduled to be sentenced by Judge KEENAN on February 13, 2006. Mr. GARCIA praised the work of all the agencies in the Strike Force involved with this investigation.
The case is being prosecuted by the Office’s International Narcotics Trafficking Unit. Assistant United States Attorney GLEN G. McGORTY is in charge of the prosecution.