A recognized international scholar on drug cartels and funds laundering has pleaded responsible to funds laundering in excess of his involvement in a Venezuelan bribery and corruption scheme.
Bruce Bagley, a professor at the University of Miami, admitted that, amongst November 2017 and October 2018, his company’s lender account received somewhere around $2.five million from the abroad accounts managed by a sanctioned Columbian businessman.
Bagley was arrested in November 2019 and pleaded not responsible at the time on the other hand, he filed a detect in March indicating that he planned to change his plea.
He is the creator of the book “Drug Trafficking, Arranged Crime, and Violence in the Americas Today.”
“Bruce Bagley … went from producing the book on crime — virtually producing a book on drug trafficking and arranged crime — to committing crimes,” the United States Legal professional for the Southern District of New York, Geoffrey Berman, explained in a push launch. “Professor Bagley admitted these days to laundering funds for corrupt foreign nationals — the proceeds of bribery and corruption, stolen from the citizens of Venezuela. Bagley now faces the chance of a long tenure in prison.”
According to courtroom files, Bagley received every month payments from a corrupt foodstuff corporation run by a Columbian businessman, due to the fact identified as Alex Saab. Bagley transferred the money to lender accounts managed by a U.S. legislation enforcement informant, Jorge Luis Hernandez, when holding a percentage for himself.
Saab was sanctioned final 12 months by the U.S. Treasury Department allegedly profiting from a no-bid contract to import foodstuff to Venezuela. He was indicted in Miami in July for laundering funds connected to a public housing software in Venezuela.
“I ought to have recognized that the funds involved were being proceeds of unlawful activity,” Bagley explained in a federal courtroom hearing.
Bagley has been on administrative leave at the University of Miami due to the fact final slide.
His sentencing is scheduled for October one.