The post Venezuelan National Charged in $1 Billion Cryptocurrency Money Laundering Scheme appeared on BitcoinEthereumNews.com.

TLDR: Jorge Figueira allegedly laundered approximately one billion dollars using cryptocurrency and shell companies. The FBI traced funds through multiple crypto wallets to individuals and businesses in high-risk jurisdictions. Figueira converted cash to cryptocurrency then back to dollars through liquidity providers to conceal origins. If convicted of conspiracy to launder money, Figueira faces a maximum sentence of 20 years in federal prison.    Jorge Figueira, a 59-year-old Venezuelan national, faces federal money laundering charges in the Eastern District of Virginia.  The U.S. Department of Justice alleges he orchestrated a scheme involving approximately one billion dollars in illicit funds.  Authorities claim Figueira used cryptocurrency exchanges, bank accounts, and digital wallets to obscure the origin of these funds. The U.S. DOJ charged Venezuelan national Jorge Figueira with conspiring to launder around $1 billion in illicit funds through bank accounts, crypto exchanges, and private wallets. The probe, supported by the FBI, alleges extensive crypto-based transfers to conceal fund origins.… — Wu Blockchain (@WuBlockchain) January 16, 2026 Extensive Network Utilized Multiple Financial Channels The criminal complaint outlines how Figueira allegedly established a complex laundering operation spanning multiple jurisdictions.  According to court documents, he employed various bank accounts and cryptocurrency exchange platforms to move money.  Shell companies were also part of the alleged infrastructure used to process the illicit funds. The FBI tracked approximately one billion dollars through cryptocurrency wallets linked to Figueira’s operation.  “The FBI has identified approximately a billion dollars’ worth of cryptocurrency that was passed through crypto wallets utilized by Figueira,” said Reid Davis, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division.  Davis noted that Figueira enlisted subordinates and conducted numerous transfers to conceal the funds’ nature. The alleged laundering process involved several conversion steps to maintain anonymity. Figueira would reportedly convert cash to cryptocurrency before directing it…

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Filed under: News - @ January 17, 2026 8:28 am