Two Jamaican men, St. Devon Anthony Cover, 61, and Dennis Raymond Rowe, 59, have been convicted for their roles in a complex international money laundering scheme. This operation funneled over $6 million in drug trafficking proceeds from Colombian cartels through banks in the United States, the Caribbean, and Europe, according to the U.S. Attorney’s Office for the District of Massachusetts.
The scheme, which involved laundering money linked to Colombian cartels, was uncovered after an extensive investigation by U.S. authorities. The two men were part of a broader network of individuals working to disguise drug money as legitimate business transactions.
Details of the Convictions
On January 17, the U.S. Attorney’s Office announced the convictions of Cover and Rowe.
Cover was found guilty of one count of conspiracy to commit money laundering and seven counts of laundering monetary instruments.
Rowe was convicted of one count of conspiracy to commit money laundering, one count of money laundering, and two counts of laundering monetary instruments.
These convictions stem from a May 2022 indictment, which named 20 individuals accused of participating in a money laundering network that operated through the Colombian Black Market Peso Exchange.
How the Scheme Operated
The investigation revealed that drug proceeds generated in the United States were converted into Colombian pesos through peso brokers.
These brokers used couriers to deliver bulk cash, which was then deposited into U.S. bank accounts disguised as legitimate business earnings.
The funds were subsequently transferred to individuals and companies in Colombia, effectively laundering the money and making it appear clean.
Authorities traced nearly 3,000 kilograms of cocaine, valued at more than $90 million on the street, to the money laundering operation.
Major Drug Seizures Linked to the Scheme
The investigation tied the network to several significant drug seizures:
July 2019: 1,193 kilograms of cocaine were seized off the coast of Jamaica.
March 2019: 1,555 kilograms of cocaine were confiscated at Colombia’s Port of Buenaventura.
These seizures highlighted the scale and global reach of the operation, which involved sophisticated methods to move both drugs and money across borders.
Key Findings from the Investigation
During the investigation, authorities seized over $1 million from corporate bank accounts and other sources.
Cover was directly linked to laundering $268,000 by delivering bulk drug cash to undercover agents.
Rowe laundered over $600,000 using similar methods.
Their actions were part of a larger effort to disguise the true source of the funds, making it challenging for law enforcement to trace the money back to its origins.
Global Impact of the Money Laundering Network
This case sheds light on how criminal organizations exploit financial systems to launder drug money on a global scale. The network’s use of banks across multiple regions, including the U.S., the Caribbean, and Europe, underscores the sophistication of such operations.
By converting drug proceeds into pesos and channeling them through legitimate-looking business transactions, the network was able to sustain its operations for years. However, the combined efforts of U.S. law enforcement agencies eventually led to its unraveling.
Significance of the Convictions
The successful prosecution of Cover and Rowe marks a major victory for U.S. authorities in the fight against international drug trafficking and money laundering. These convictions send a clear message to criminal organizations that such activities will not go unpunished.
As part of the broader effort to combat organized crime, authorities are continuing to investigate other individuals and entities connected to the scheme.
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