California Man Convicted of Conspiracy to Money Launder and Conspiracy to Distribute Methamphetamine
United States Attorney Deborah R. Gilg announced that on Monday, July 18, 2016, Sergio Valencia, Sr., of Moreno Valley, California, was convicted after a week-long jury trial of conspiracy to commit money laundering and conspiracy to distribute methamphetamine. Evidence presented at trial indicated that Valencia was involved with several other individuals who transported methamphetamine from California to Lincoln, Nebraska, and returned the proceeds of sales in Nebraska to California by making deposits to Wells Fargo bank accounts held in the names of Valencia’s wife, two children, another relative, and his landscaping business as well as accounts held in the names of relatives of one of Valencia’s co-conspirators. The approximate time-frame of the conspiracies was between April and September of 2011 for the money laundering and between January of 2010 and June of 2013 for the drug conspiracy. Valencia was acquitted of a third charge of conspiracy to structure financial transactions.
Sentencing is scheduled for October 20, 2016.
This case was investigated by the Lincoln/Lancaster County Drug Task Force.