U.S. Resident Of Mexico Pleads Guilty To Money Laundering Scheme
A US citizen who resides in Cabo San Lucas, Mexico pleaded guilty to brokering international Money Laundering transactions, announced U.S. Attorney Barbara McQuade.
McQuade was joined in the announcement with Special Agent in Charge Robert L. Corso, Drug Enforcement Administration Detroit Field Office.
Pleading guilty before United States District Judge Bernard A. Friedman on July 9, 2013 was Michael Venuta.
According to court records, between April, 2011 and December 2012 Venuta was an associate of individuals involved in drug trafficking in Canada, the United States and Mexico. Venuta brokered multiple transactions in which drug trafficking proceeds were transmitted or transported across international borders involving the United States, Mexico and Canada. Specifically, the transactions were intended to conceal the nature, source and location of the proceeds.
Sentencing is scheduled for October 8, 2013. Venuta faces a maximum sentence of 46 month in prison under the terms of the plea agreement which was taken under advisement by the court, and a fine of up to $250,000. In addition, $356,314.00 in drug proceeds was seized and is being forfeited.
Ms. McQuade complimented the Special Agents of the DEA responsible for the investigation of the case.