International Crime Scholar Pleads Guilty in Money-Laundering Case

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.

Bruce Bagley, corruption, Income laundering, Venezuela