Venezuelan charged in alleged $1 billion crypto-money laundering case

Beincrypto reports the Department of Justice charged a Venezuelan national this week for allegedly using cryptocurrency exchanges and other methods in a roughly $1 billion money-laundering scheme that moved funds in and out of the United States. According to court records, 59-year-old Jorge Figueira of Venezuela is accused of using multiple bank accounts, cryptocurrency exchange accounts, private wallets and shell companies to convert funds into crypto and route them through a network of digital wallets, then to liquidity providers who converted the crypto into dollars and moved funds to bank accounts and final recipients.

The complaint says outbound destinations included "high-risk" jurisdictions such as Colombia, China, Panama and Mexico, and FBI special agent Reid Davis said, "By enlisting subordinates and conducting scores of transfers, Figueira sought to conceal the nature of the funds, potentially facilitating criminal activity in numerous countries." The case is under review in the Eastern District of Virginia, and prosecutors say Figueira faces up to 20 years in prison if convicted.

The filing comes amid a reported surge in crypto-enabled crime: a Chainalysis report cited in the coverage found illicit addresses received at least $154 billion in 2025, a 162% increase from 2024, with stablecoins comprising 84% of illicit volume while bitcoin fell to 7%.

Key Topics

Crypto, Jorge Figueira, Venezuela, Fbi, Chainalysis, Stablecoins