Man Indicted For Laundering Millions In Drug Proceeds

October 8, 2022 Source: pixabay.com

California resident John Khuu was charged with conspiracy to commit money laundering and indulging in selling illegal substances.

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According to one of the indictments, Khuu allegedly created vendor accounts on different dark web marketplaces to sell banned drugs.

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Khuu also allegedly used a network of financial institutions to launder the funds, including Bank of America, Citibank, JPMorgan Chase and Wells Fargo.

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Khuu allegedly conducted just under 500 transactions tied to the sale of about 620 BTC.

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Khuu waived his right to a detention hearing, according to another court filing released on Oct. 6.

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During the course of the conspiracy, Khuu and his co-conspirators allegedly laundered more than $5,350,000.00.

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If convicted, Khuu faces up to 20 years in federal prison on each charge.

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