RI Man Pleads Guilty to Role in International Money Laundering Conspiracy

RI Man Pleads Guilty to Role in International Money Laundering Conspiracy

A Rhode Island man pleaded guilty this week to his involvement in a sophisticated international money laundering and drug trafficking organization.

The complex global case was prosecuted out of the Boston office of the Justice Department.

Agustin Villa, age 61, pleaded guilty to conspiracy to commit money laundering. U.S. District Court Judge Angel Kelley scheduled sentencing for Nov. 25, 2024.

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Villa lived in Cranston.

 

The Case Dates Back to 2021

In May 2023, a federal grand jury in Boston returned a superseding indictment charging 12 individuals from Massachusetts, Rhode Island, New York and California for their alleged involvement in a sophisticated international money laundering and drug trafficking organization. The network was first detected in greater Boston in 2021.

The leader of the organization, Jin Hua Zhang, based in Staten Island, New York, and a number of his criminal associates, were eventually identified. For a fee, Zhang laundered bulk cash for drug dealers and laundered profits from other illegal businesses. In less than one year, Zhang and his organization laundered at least $25 million worth of drug proceeds and funds from other illegal businesses.

According to the Justice Department, Villa was identified as a courier for a drug trafficking organization that used Zhang’s group to launder drug money. On May 26, 2022, Villa delivered over $75,000 in cash to a cooperating witness. Those funds were converted to Tether, a type of cryptocurrency, and transferred to Zhang, the organization’s leader, minus a fee. Funds were traced from the Zhang organization to Hong Kong and elsewhere in China, India, Cambodia, and Brazil, among other locations, and seized cash and cryptocurrency in accounts tied to Zhang at the conclusion of this investigation.

The charge of money laundering conspiracy provides for a 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. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

Zhang pleaded guilty and is scheduled to be sentenced on Jan. 15, 2024.

Acting United States Attorney in the Boston office, Joshua S. Levy and Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, made the announcement. Assistant U.S. Attorneys Christopher Pohl, Brian A. Fogerty and Meghan C. Cleary of Levy’s Criminal Division are prosecuting the case.