Department of Justice
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Dallas Man Guilty of Money Laundering
PLANO, Texas – A 51-year-old Dallas man has pleaded guilty to federal violations in the Eastern District of Texas, announced U.S. Attorney John M. Bales today.
Waddell “Wade” Jones pleaded guilty to money laundering and aiding and abetting today before U.S. Magistrate Judge Don D. Bush.
According to information presented in court, Jones admitted to receiving currency from an undercover officer and that he was told the currency was drug money derived from the sale of illegal narcotics. In exchange, Jones provided stolen U.S. Treasury Checks to the undercover officer. Jones admitted that he intended to conceal the currency that he believed to be from drug trafficking. A federal grand jury returned an indictment against Jones and Chijioke Obiora on May 28, 2014. Obiora is awaiting trial.
Jones faces up to 20 years in federal prison at sentencing. A sentencing date has not been set.
This case is being investigated by IRS Criminal Investigation, Texas Department of Public Safety Criminal Investigation, and U.S. Diplomatic Security and prosecuted by Assistant U.S. Attorney Jay Combs.