TLDR:
- Rhode Island resident Agustin Villa pleaded guilty to money laundering conspiracy
- The operation laundered over $25 million using cryptocurrency
- Villa faces up to 20 years in prison and a fine of up to $500,000
- The case involved an international drug trafficking ring led by Jin Hua Zhang
- Funds were traced to various countries including China, India, Cambodia, and Brazil
Agustin Villa, a 61-year-old Rhode Island resident, has pleaded guilty to conspiracy to commit money laundering in connection with an international drug trafficking operation.
The case, which came to light in Boston in 2021, involves a sophisticated criminal network that laundered over $25 million in drug proceeds and illicit business funds using cryptocurrency.
Villa served as a courier for the organization led by Jin Hua Zhang, based in Staten Island, New York. On May 26, 2022, Villa delivered more than $75,000 in cash to a cooperating witness. This money was then converted to Tether, a type of cryptocurrency, and transferred to Zhang, minus a fee.
The U.S. Attorney’s Office for the District of Massachusetts announced that the funds were traced from Zhang’s organization to various locations around the world, including Hong Kong, China, India, Cambodia, and Brazil. As a result of the investigation, cash and cryptocurrency were seized from accounts tied to Zhang.
The criminal network offered money laundering services to drug dealers and other illegal businesses for a fee. In less than a year, Zhang and his associates laundered at least $25 million worth of drug proceeds and funds from other illicit activities.
The case involves a total of 12 individuals from Massachusetts, Rhode Island, New York, and California who were charged for their alleged involvement in the money laundering and drug trafficking organization.
Zhang, the leader of the group, has already pleaded guilty and is scheduled for sentencing on January 15, 2024.
Villa now faces significant legal consequences for his role in the operation.
The charge of money laundering conspiracy carries a potential sentence of up to 20 years in prison, up to three years of supervised release, and a fine of up to $500,000 or twice the amount involved, whichever is greater.
The investigation was a collaborative effort involving multiple law enforcement agencies. Acting United States Attorney Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation’s Boston Division, made the announcement.
The case is being prosecuted by Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty, and Meghan C. Cleary of the Criminal Division.
The guilty plea of Agustin Villa is a significant development in the larger case against the Zhang organization. As more details emerge, it becomes clear that this operation had far-reaching connections across the United States and internationally.
U.S. District Court Judge Angel Kelley has scheduled Villa’s sentencing for November 25, 2024.
