Money Laundering Expert Accused of … Money Laundering

by time news

Retired University of Miami professor Bruce Bagley, considered an expert on money laundering and even testifying in Congress on the issue, was recently sentenced to 6 months in prison.

It turned out that Bagley used his expert knowledge to facilitate such “money laundering” in Venezuela and received $ 200,000 in commission for this service. The 75-year-old professor, who pleaded guilty last year, faced up to 20 years in prison, but the prosecutor’s office asked him to sentence him below the standards set by federal laws. Bagley’s lawyer pointed to the poor health of his client and argued that he “had already suffered from the loss of his job and reputation.”

Bagley opened a bank account in the name of his consulting firm, to which large sums of money from Venezuela were transferred every month. In 2017, transfers of 200 thousand dollars began to come to this account in banks in Switzerland and the United Arab Emirates. Bagley sent 10% of these amounts to a personal bank account, and for the rest of the money he wrote bank checks in the name of an unnamed Colombian citizen. To conceal the fact of “laundering”, Bagley signed a false contract with this Colombian for the provision of various services.

Published in the newspaper “Moskovsky Komsomolets” No. 0 dated November 30 -0001

Newspaper headline:
Criminal expertise

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