19 Arrested Accused of Laundering Money in US Banks for Colombian Drug Cartels

Countries with the highest risk of money laundering 0:48

(CNN) ––

A total of 19 people were arrested in Colombia, Jamaica and the United States for their alleged participation in an international money laundering organization that laundered several million dollars from Colombian drug cartels through the US banking system, announced the US Attorney for the District of Massachusetts.

"These charges are the result of an investigation of more than five years against a money laundering organization based in Barranquilla, Colombia, which was infiltrated by security forces from the United States, Colombia and Jamaica," said Rachel Rollins, prosecutor federal for the District of Massachusetts.

The drug investigation, dubbed Operation Thin Ice, involved undercover agents, confidential sources and cooperating witnesses.

It led to the discovery that more than $6 million in "Colombian drug proceeds" was laundered "through banks in the United States, the Caribbean and Europe, including banks here in Massachusetts," Rollins said.

Five of the 19 suspects were arrested in Florida and Jamaica on Tuesday, Rollins noted.

The other 13 were arrested in Colombia and Florida last month, he said.

Officials from the Internal Revenue Service (IRS) and the DEA also spoke to reporters on Tuesday along with their counterparts from Jamaica and Colombia.

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"The role of some of the defendants was to act as stockbrokers based in Colombia, to launder drug proceeds in the US and other countries," said Joleen D. Simpson, special agent in charge of the investigation. IRS criminal in Boston.

Authorities describe what money laundering was like

According to Rollins, drug traffickers contacted a "stockbroker" who traded in pesos and was in Colombia.

"The peso stockbroker would agree to give Colombian pesos to the drug traffickers in exchange for the profits from the sale of drugs in the United States. Once this exchange took place, the drug trafficker would launder the proceeds through black market peso exchange. Rollins explained.

The IRS's goal in drug trafficking investigations is "to follow the money trail so that we can financially impact and dismantle major drug trafficking organizations. Cash proceeds are the obvious lifeblood of any drug trafficking organization," Simpson said.

Authorities "seized $1 million from corporate bank accounts and ... almost 3,000 kilograms of cocaine, valued at more than $90 million, which is linked to the money laundering organization," Rollins reported.

Officials did not identify the defendants or the criminal organization during Tuesday's briefing.

The suspects "created false documents that were sent to banks to circumvent bank anti-money laundering protocols ... in order to keep banks from being involved" in Massachusetts, Assistant US Attorney Jared Dolan added.

Rollins said his office "will seek the extradition of the defendants in Colombia and Jamaica, to the district of Massachusetts to face charges."

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