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- U.S. prosecutors charged a Venezuelan national in Virginia.
- Investigators traced about one billion dollars through crypto routes.
- The case highlights risks to global finance and public safety.
Federal prosecutors filed a criminal complaint in the Eastern District of Virginia against Jorge Figueira, a Venezuelan national aged fifty-nine. Authorities accuse him of conspiracy to launder money at an extreme scale.
The filing describes a network that moved vast sums across borders and platforms. Prosecutors say the conduct threatened financial systems and public safety. The case targets activity that enabled criminal groups to grow and operate across regions.
Officials stressed that federal law applies to anyone who moves illicit funds at this level. Investigators say they identified the activity through financial analysis and cooperation across agencies. The complaint sets the stage for court proceedings in Virginia.
FBI Traces One Billion Dollars in Venezuelan Crypto Network
Investigators traced roughly one billion dollars in cryptocurrency through wallets tied to Figueira and his operation. The FBI mapped flows that reached individuals and businesses around the world. Agents say the network relied on many transfers to blur the source of funds.
The operation used subordinates to execute movements and manage accounts. The funds traveled through crypto wallets, exchanges, and liquidity providers. The network converted value from digital assets into dollars and back again.
Each step aimed to hide origins and destinations. Authorities say these methods can support crime in many countries. The tracing effort linked wallets to repeated patterns and large volumes. The findings formed a core part of the complaint.
Court records describe a layered process. The network used bank accounts, exchange accounts, private wallets, and shell companies. The operation converted money into cryptocurrency and sent it through chains of digital wallets.
Liquidity providers then exchanged the assets for dollars. The dollars moved into bank accounts controlled by Figueira. From there, the funds reached final recipients. Prosecutors allege the steps sought to defeat law enforcement review.
Authorities Track Massive Cross-Border Crypto Flows
Records show more than one billion dollars moved through the identified wallets and accounts. Most inbound funds came from crypto trading platforms. Most outbound funds went to businesses and individuals in the United States and abroad.
Destinations included higher-risk jurisdictions such as Colombia, China, Panama, and Mexico. The case reflects a wider push against complex financial crime. Agencies now focus on data sharing and rapid tracing tools.
Crypto analysis teams follow wallet behavior across chains. Banks strengthen controls and reporting duties. Exchanges expand compliance reviews. Prosecutors aim to deter similar schemes. They signal scrutiny for cross-border flows.
The investigation also warns facilitators who provide services without checks. If convicted, Figueira faces up to twenty years in prison. A federal judge will set any sentence after reviewing guidelines and statutory factors. The proceedings will continue as courts assess evidence and legal arguments.
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