Major players plead guilty in ‘funnel account’ scam at Rio Rico bank
Nogales International, 2 May 2021
Three key members of a scheme to transfer organized crime proceeds from the United States to Mexico through so-called “funnel accounts” opened at the Wells Fargo bank in Rio Rico have now pleaded guilty to federal charges.
The latest guilty plea, which was accepted by a judge during a hearing on Wednesday at U.S. District Court in Tucson, was from Carlos Antonio Vasquez, the former manager of the bank branch. He agreed to plead guilty to one count of conspiracy to commit money laundering – a crime that normally carries a maximum sentence of 20 years in prison, but for which Vasquez will receive no more than 34 months (2 years, 10 months) in exchange for his plea.
The conspiracy reportedly lasted from February 2017 until August 2019. Continue reading “Article: Major players plead guilty in ‘funnel account’ scam at Rio Rico bank”