Federal prosecutors have secured a guilty plea from a former bank employee accused of taking bribes to help launder millions of dollars in illicit funds to Colombia.
Gerardo Aquino, 40, of Hollywood, Florida, pleaded guilty Tuesday to conspiring to launder monetary instruments and receiving bribes as a bank employee, says the U.S. Department of Justice.
From April 2022 through November 2023, Aquino used one Miami commercial address to open 86 fake accounts and issued hundreds of debit cards while unblocking others that had been restricted for suspected fraud.
The accounts moved more than $3 million to Colombia, and the overall scheme reached about $4.8 million, with Aquino receiving more than $8,000 in cash and digital payments.
Says Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division,
“Gerardo Aquino abused his position of trust at TD Bank and enriched himself in the process. Bank insiders who facilitate money laundering and illegal activity for criminal organizations play a critical role for that organization and abuse our financial system. When that happens, these insiders will be investigated and prosecuted.”
Aquino faces up to 20 years in prison on the money laundering count and up to 30 years on the bribery count, with sentencing scheduled for March 23rd, 2027.
The Drug Enforcement Administration, IRS Criminal Investigation and FDIC Office of Inspector General investigated the case.
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