Two Jamaican men have been found guilty of participating in a global money laundering operation. This operation facilitated the transfer of over $6 million in drug trafficking profits from Colombian cartels through various banks in the United States, the Caribbean, and Europe. The announcement was made by the U.S. Attorney’s Office in the District of Massachusetts on January 17th.
The U.S. attorney’s office has announced that St. Devon Anthony Cover, aged 61, has been convicted of one charge of conspiring to commit money laundering and seven charges of laundering monetary instruments.
Dennis Raymond Rowe, aged 59, has been found guilty of conspiracy to commit money laundering, as well as money laundering and laundering monetary instruments. This verdict was announced by the Department of Justice.
According to the U.S. attorney’s office, the Colombian Black Market Peso Exchange indictment in May 2022 included 20 individuals, including the two mentioned. They were charged with laundering drug money.
During the investigation, the department seized $1 million from corporate bank accounts and conducted other investigative activities.
The U.S. attorney’s office has announced that they have traced back nearly 3,000 kilograms of cocaine, with a street value exceeding $90 million, to the money laundering organization.
The Department reported that the total amount of cocaine seized included 1,193 kilograms off the coast of Jamaica in July 2019 and 1,555 kilograms at Colombia’s Port of Buenaventura in March 2019.
According to the department, drug profits generated within the United States were converted into Colombian pesos by peso brokers. These brokers utilized couriers to transport large amounts of cash.
According to the U.S. attorney’s office, the money was deposited into American bank accounts to make it appear as though it was part of legitimate business operations. Afterward, the funds were transferred to various individuals and companies located in Colombia.
The Department added that Rowe laundered more than $600,000 by delivering bulk drug cash to undercover agents, while Cover laundered $268,000.