NEW JERSEY – A Passaic County man Wednesday admitted his role in an illegal money transmitting business, according to U.S. Attorney Philip R. Sellinger.
Enmanuel Nunez-Reyes, 29, pleaded guilty by videoconference before U.S. District Judge Brian Martinotti to aiding and abetting an illegal money transmitting business, Sellinger said.
According to documents filed in this case and statements made in court, from December 2016 through September 2017, Nunez-Reyes accepted over $2.8 million in cash and purchased over 100 cashier’s checks at local bank branches in New Jersey and elsewhere, the proceeds of illegal drug distribution.
The check purchases were part of an illegal money transmitting and money laundering scheme designed to hide the illegal source of the cash and transfer it from New Jersey to the Dominican Republic and Colombia, all while attempting to avoid scrutiny by law enforcement and U.S. banks.
The charge of aiding and abetting an illegal money transmitting business carries a maximum penalty of five years in prison and a fine of $250,000 or twice the amount involved in the offense, whichever is greater.
Sentencing is scheduled for October 18.