Unlicensed Money Transmitter Pleads Guilty To Money Laundering Conspiracy
2015-06-16 · Press release
SAN DIEGO – San Diego-based money transmitter Francisco Cuevas pleaded guilty in federal court today to participating in a money laundering conspiracy.
In a hearing before U.S. Magistrate Judge David H. Bartick, Cuevas admitted that he and coconspirators operated an unlicensed money transmitting business, in criminal violation of the Bank Secrecy Act, and conducted nearly $12 million worth of international financial transactions in an attempt to promote their unlicensed money transmitting business.
According to the plea agreement, Cuevas and his coconspirators operated a commercial enterprise willing and able to transfer cash on behalf of third parties without registering the business with the Secretary of the Treasury, as required by Title 31, United States Code, Section 5330. In turn, the defendants’ customers availed themselves of Cuevas’ services, and those of his alleged co-conspirators, to collect cash anywhere throughout the United States, and transmit it anywhere in the world. The defendants obtained commissions for their services, extracting a fee from the millions of dollars transmitted abroad.
The criminal case is assigned to U.S. District Court Judge Roger T. Benitez (14cr2936). Judge Bartick allowed Cuevas to remain on pretrial release, pursuant to the terms of a bond posted by Cuevas. Cuevas is scheduled to be sentenced on September 21, 2015 at 9 a.m. before Judge Benitez.
Money Laundering Conspiracy – Title 18, U.S.C., Section 1956(h)
Maximum penalty: 20 years’ imprisonment, $500,000 fine, and forfeiture
Federal Bureau of Investigation
Drug Enforcement Administration
Internal Revenue Service
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- https://www.justice.gov/usao-sdca/pr/unlicensed-money-transmitter-pleads-guilty-money-laundering-conspiracy
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| participant_id | name | role | title | organization | location | age | nationality | status |
|---|---|---|---|---|---|---|---|---|
| 2717 | Francisco Cuevas | defendant | San Diego | 38 | pleaded guilty | |||
| 2718 | David H. Bartick | judge | U.S. Magistrate Judge | U.S. District Court | San Diego | |||
| 2719 | Roger T. Benitez | judge | U.S. District Court Judge | U.S. District Court | San Diego |
| agency_id | agency_name | abbreviation | role | office_location | agents_mentioned | contribution |
|---|---|---|---|---|---|---|
| 1743 | Federal Bureau of Investigation | FBI | investigation | Conducted investigation into money laundering conspiracy | ||
| 1744 | Drug Enforcement Administration | DEA | investigation | Conducted investigation into money laundering conspiracy | ||
| 1745 | Internal Revenue Service | IRS | investigation | Conducted investigation into money laundering conspiracy |
| charge_id | charge_description | statute | severity | max_penalty | fine_amount | defendant | status | participant_id | cl_docket_id | count_num | is_1960 | verified_1960 | source | updated_at |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1417 | Money Laundering Conspiracy | 18 U.S.C. § 1956(h) | 20 years’ imprisonment | $500,000 | Francisco Cuevas | pleaded guilty | 0 | enrichment | ||||||
| 3461 | operated an unlicensed money transmitting business, in criminal violation of the Bank Secrecy Act, and conducted nearly $ | 1 | press | 2026-09-16T19:46:00+00:00 | ||||||||||
| 3462 | unlicensed money transmitting business, in criminal violation of the Bank Secr | 1 | press | 2026-09-16T19:46:00+00:00 | ||||||||||
| 3463 | unlicensed money transmitting business | 1 | press | 2026-09-16T19:46:00+00:00 |
| fin_id | action_type | amount | currency | description | asset_type | defendant | status |
|---|---|---|---|---|---|---|---|
| 1439 | forfeiture | proceeds from the money laundering conspiracy | Francisco Cuevas | pending | |||
| 1440 | fine | $500,000 | USD | maximum penalty | cash | Francisco Cuevas | pending |
| victim_id | victim_type | description | number_affected | loss_amount | geographic_scope | vulnerability_factors | impact_description |
|---|---|---|---|---|---|---|---|
| 791 | individual | customers | $12,000,000 | United States | used unlicensed money transmitting services to collect and transmit cash |
| quote_id | quote_text | speaker_name | speaker_title | speaker_organization | quote_type | context | significance |
|---|---|---|---|---|---|---|---|
| 2967 | Cuevas admitted that he and coconspirators operated an unlicensed money transmitting business, in criminal violation of the Bank Secrecy Act, and conducted nearly $12 million worth of international financial transactions in an attempt to promote their unlicensed money transmitting business. | Francisco Cuevas | statement | Plea agreement in federal court | Admission of guilt and details of the crime |
| theme_id | theme_name | description | significance | related_statutes | geographic_scope | temporal_aspects | stakeholders |
|---|---|---|---|---|---|---|---|
| 1973 | Money Laundering Conspiracy | Cuevas and coconspirators participated in a conspiracy to launder money through an unlicensed money transmitting business. | Central charge leading to guilty plea, highlighting the illegal movement of funds. | 18 U.S.C. § 1956(h) | International | Recent development | Law enforcement, Federal Bureau of Investigation, Drug Enforcement Administration, Internal Revenue Service, Defendants, Customers |
| 1974 | Unlicensed Money Transmission | Operating an unlicensed money transmitting business in violation of Title 31, United States Code, Section 5330. | Core violation enabling the money laundering scheme by evading regulatory oversight. | 31 U.S.C. § 5330 | National | Ongoing until detection | Defendants, Treasury Department, Customers |
| 1975 | Bank Secrecy Act Violation | Operating without registering the business with the Treasury as required by the Bank Secrecy Act. | Key legal violation that allowed the unlicensed operations to proceed. | Bank Secrecy Act (Title 31, United States Code) | National | Ongoing until detection | Defendants, Treasury Department |
| 1976 | International Financial Transactions | Conducted nearly $12 million in international financial transactions to promote their unlicensed business. | Facilitated the movement of illicit funds across borders, central to the money laundering scheme. | 18 U.S.C. § 1956(h) | International | Recent development | Defendants, Customers, International recipients |
| 1977 | Federal Law Enforcement Collaboration | Investigation involved collaboration between the FBI, DEA, and IRS. | Demonstrates multi-agency cooperation in combating financial crimes. | National | Ongoing investigation | Federal Bureau of Investigation, Drug Enforcement Administration, Internal Revenue Service |
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