APRIL 3, 2015EL PASO, TXFINANCIAL CRIMES El Paso businessman sentenced to 10 years in prison for money laundering
EL PASO, Texas — A local businessman was sentenced Friday to 10 years in federal prison for his part in a money laundering scheme. The sentence resulted from an investigation conducted by U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) and the El Paso Police Department.
Eduardo A. Herrera, 54, owner of Best for Less Collision Center in El Paso, was also ordered to forfeit his business property valued at $411,000, and cash seized from four business bank accounts totaling $15,451.05. Herrera’s sentence also included a $1 million money judgment.
Herrera pleaded guilty Jan. 14 to money laundering. According to court documents, an HSI El Paso investigation determined that Herrera used Best for Less Collision Center for transnational drug smuggling and money laundering. Proceeds of cocaine and marijuana smuggled from Mexico and transported to end users in the Jacksonville, Florida area, were sent to El Paso through numerous funnel accounts held in third-party names. Best for Less Collision Center withdrew the proceeds and covered deposits into the business' bank accounts with false invoices.
More than $2 million has been identified as being funneled through third party accounts.
“Seizures and sentences such as these not only deny criminals their profits, they also disrupt their ability to further fund their criminal activity," said Waldemar Rodriguez, special agent in charge of HSI El Paso. “This should serve as a stern reminder to those seeking to abuse the financial system to enrich themselves. HSI will investigate and prosecute them no matter how they attempt to conceal their illicit proceeds.”
The Drug Enforcement Administration assisted in the investigation, which was part of the HSI El Paso’s Southwest Border Financial Operations & Currency Unified Strike Force (FOCUS). Assistant U.S. Attorney Joseph Blackwell prosecuted this case on behalf of the government.
FOCUS comprises investigators from the Internal Revenue Service (IRS), U.S. Postal Inspection Service, Customs and Border Protection’s (CBP) Office of Field Operations (OFO), the El Paso Police Department and the Government of Mexico’s Servicio de Administración Tributaria (SAT).
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APRIL 3, 2015EL PASO, TXFINANCIAL CRIMES El Paso businessman sentenced to 10 years in prison for money laundering
EL PASO, Texas — A local businessman was sentenced Friday to 10 years in federal prison for his part in a money laundering scheme. The sentence resulted from an investigation conducted by U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) and the El Paso Police Department.
Eduardo A. Herrera, 54, owner of Best for Less Collision Center in El Paso, was also ordered to forfeit his business property valued at $411,000, and cash seized from four business bank accounts totaling $15,451.05. Herrera’s sentence also included a $1 million money judgment.
Herrera pleaded guilty Jan. 14 to money laundering. According to court documents, an HSI El Paso investigation determined that Herrera used Best for Less Collision Center for transnational drug smuggling and money laundering. Proceeds of cocaine and marijuana smuggled from Mexico and transported to end users in the Jacksonville, Florida area, were sent to El Paso through numerous funnel accounts held in third-party names. Best for Less Collision Center withdrew the proceeds and covered deposits into the business' bank accounts with false invoices.
More than $2 million has been identified as being funneled through third party accounts.
“Seizures and sentences such as these not only deny criminals their profits, they also disrupt their ability to further fund their criminal activity," said Waldemar Rodriguez, special agent in charge of HSI El Paso. “This should serve as a stern reminder to those seeking to abuse the financial system to enrich themselves. HSI will investigate and prosecute them no matter how they attempt to conceal their illicit proceeds.”
The Drug Enforcement Administration assisted in the investigation, which was part of the HSI El Paso’s Southwest Border Financial Operations & Currency Unified Strike Force (FOCUS). Assistant U.S. Attorney Joseph Blackwell prosecuted this case on behalf of the government.
FOCUS comprises investigators from the Internal Revenue Service (IRS), U.S. Postal Inspection Service, Customs and Border Protection’s (CBP) Office of Field Operations (OFO), the El Paso Police Department and the Government of Mexico’s Servicio de Administración Tributaria (SAT).
Updated: 04/08/2015