Jose Luis Garcia, who co-owned a money services business in Oakland, was sentenced to one year in federal prison for laundering money through structured wires.
Garcia served as the anti-money laundering compliance officer and failed to monitor outgoing wires, knowingly facilitating transactions aimed at evading federal reporting requirements.
The money services business operated under names like Envios Express, and it accepted large cash sums to wire funds to drug-trafficking regions in Mexico or Honduras.
In August 2022, Garcia processed a $9,200 wire transfer in violation of laws, using fake identities and pocketing under-the-table fees for his services.
#money-laundering #federal-prison-sentence #money-services-business #compliance-violations #criminal-charges
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