The post Venezuelan Charged in $1B Crypto Money Laundering Case appeared on BitcoinEthereumNews.com.

Crime US authorities have brought charges in a case that highlights how cryptocurrency is increasingly woven into large, cross-border financial crime schemes. Prosecutors allege that a Venezuelan national built an elaborate system to quietly move vast sums of money through both digital assets and the traditional banking system, masking the trail at every step. Key Takeaways Venezuelan Charged in $1B Crypto Money Laundering Case US Charges Venezuelan Over Massive Crypto Laundering Scheme $1B Crypto Laundering Network Uncovered by US Authorities Federal Charges Filed in Billion-Dollar Crypto Laundering Case Venezuelan National Accused in Large-Scale Crypto Laundering Federal prosecutors say Jorge Figueira, a 59-year-old Venezuelan citizen, sits at the center of a laundering network that moved close to $1 billion. The criminal complaint, filed in federal court in Alexandria, Virginia, accuses him of conspiracy to launder money using a structure designed to handle enormous volumes without drawing attention. According to the U.S. Attorney’s Office for the Eastern District of Virginia, the operation was not limited to a single platform or country. Instead, it relied on multiple layers of accounts, entities, and intermediaries to push funds through the global financial system. Crypto as a transit layer, not the destination Investigators describe cryptocurrency as a key transit point rather than the final stop. Funds were allegedly shifted into digital assets, fragmented across numerous wallets, and sent through repeated transactions before being routed to liquidity providers. From there, the crypto was converted back into US dollars and introduced into bank accounts tied to the network. Authorities say this cycle was repeated frequently, creating a maze of transactions intended to break the link between the money and its original source. The structure allowed funds to cross borders quickly while avoiding the scrutiny typically applied to large international bank transfers. Law enforcement tracks massive flows The Federal…

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Filed under: News - @ January 17, 2026 5:03 am