A Venezuelan national, Jorge Figueira, has been charged in a criminal complaint in the Eastern District of Virginia for allegedly laundering approximately one billion dollars. Authorities describe this as one of the largest alleged money laundering operations ever identified, raising concerns about the potential impact on global financial systems.
Lindsey Halligan, U.S. Attorney for the Eastern District of Virginia, said the case involves “a scale of criminal conduct that poses a profound threat to financial systems and public safety.” She added that laundering money at this level allows transnational criminal organizations to operate and expand, creating real-world harm.
How the Alleged Money Laundering Worked
Court documents outline that Jorge Figueira, 59, allegedly ran a complex network to move illicit funds without detection. The operation reportedly involved bank accounts, cryptocurrency exchange accounts, private cryptocurrency wallets, and shell companies.
Investigators say Figueira converted large sums of money into cryptocurrency. This cryptocurrency was then transferred to a series of digital wallets. Afterward, the funds were sent to liquidity providers, who exchanged the cryptocurrency back into U.S. dollars. The dollars were finally deposited into Figueira’s bank accounts and sent to their intended recipients.
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Reid Davis, Special Agent in Charge of the FBI Washington Field Office’s Criminal Division, said that Figueira enlisted subordinates and conducted multiple transfers to hide the origin of the funds. The process may have facilitated criminal activity in several countries, including those with high-risk jurisdictions like Colombia, China, Panama, and Mexico.
The FBI estimates that the total value of cryptocurrency moved through the network was approximately one billion dollars. Most of the incoming funds to Figueira’s accounts were received from cryptocurrency trading platforms, while the outgoing money was sent to businesses and individuals both in the United States and overseas.
Global Reach and Legal Proceedings
Authorities say the alleged laundering network had a broad international reach, sending large sums to multiple countries. This case highlights how modern financial systems, including cryptocurrency and shell companies, can be exploited to move vast amounts of money across borders.
The case is being prosecuted by Assistant U.S. Attorney Catherine Rosenberg. If convicted, Figueira faces up to 20 years in federal prison. A federal district court judge will determine any sentence, taking into account the U.S. Sentencing Guidelines and other statutory factors.
Officials emphasize that a criminal complaint is only an accusation. Figueira is presumed innocent until proven guilty in a court of law.
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Investigations and Statements from Authorities
The FBI has carefully traced the flow of funds through multiple accounts and cryptocurrency wallets. According to federal officials, Figueira allegedly used sophisticated methods to conceal the nature and origin of the funds, a process that could allow criminal organizations to continue their operations undetected.
Lindsey Halligan explained that “money laundering at this level enables transnational criminal organizations to operate, expand, and inflict real-world harm.” She stressed that individuals who move illicit funds in the billions of dollars should expect to be identified, disrupted, and held fully accountable under federal law.
Reid Davis also noted that Figueira’s operation involved enlisting subordinates and conducting scores of transfers, making it harder for authorities to trace the money. The FBI identified approximately a billion dollars’ worth of cryptocurrency that passed through wallets linked to Figueira and his operation, reaching individuals and businesses worldwide.
Court documents and information about the case are publicly available through the District Court for the Eastern District of Virginia or PACER by searching Case No. 1:25-mj-730.
The allegations in this case show how cryptocurrency can be used to move enormous sums of money internationally while attempting to conceal the source. Federal authorities are focused on tracking illicit funds and ensuring accountability for individuals involved in such large-scale operations.