Breaking News

Three Indian-Americans convicted in multi-million dollar money-laundering scheme

NEW YORK: Three Indian-Americans are amongst six other folks convicted for their role in a two-year multi-million dollar money-laundering scheme, the United States Justice Department has mentioned.

Ravinder Reddy Gudipati, 61; Harsh Jaggi, 54 and Neeru Jaggi, 51, all from Laredo, Texas, have been convicted of a money laundering conspiracy following a five-week jury trial.

Along with the Indian-American trio, Adrian Arciniega-Hernandez, 36, of Nuevo Laredo, Mexico; Adriana Alejandra Galvan-Constantini, 36 and Luis Montes-Patino, 57, both from Irving, Texas, have been convicted, mentioned Assistant Attorney General Brian Benczkowski of the Justice Department's Criminal Division.

Harsh and Adrian have been also convicted on two counts of money laundering and Neeru Jaggi was convicted on one count of money laundering. Gudipati was convicted on two counts of money laundering along with other counts.

Adrain, Galvan-Constantini, Montes-Patino, Gudipati, Harsh and Neeru have been a part of a complex money laundering scheme whereby money derived from the sale of gear in the United States was laundered via businesses in Laredo in order to go back the proceeds to Mexican drug dealers.

According to proof offered in court docket, from 2011 to 2013, Galvan-Constantini, Montes-Patino and other co-conspirators helped to move hundreds of thousands of greenbacks derived from the sale of gear right through the United States to Laredo in Texas.

The US foreign money was moved through couriers by way of cars, industrial buses, industrial planes and likewise a non-public plane utilized in bulk cash quantities of as much as masses of 1000's of greenbacks at a time.

The money, in warmth sealed packs, asymmetric rubber-banded money stacks or unfastened US foreign money, arrived in plastic baggage, cloth baggage, suitcases, backpacks and even cereal packing containers, it mentioned.

The money was then allotted amongst downtown Laredo, Texas fragrance retail outlets, together with retail outlets owned through Gudipati and Harsh and Neeru.

No comments