610SPOR2 35h_CBSSportsRad_Houston
TEXANS NEWS: Texans Sign DT Ricardo Mathews - Read More

News

4 Get Prison In Houston Black Market Peso Scam

View Comments
Picture of Mexican five peso coins (Photo credit: YURI CORTEZ/AFP/Getty Images)

Picture of Mexican five peso coins (Photo credit: YURI CORTEZ/AFP/Getty Images)

Featured Items

77820352_8Reluctantly Jumping On The Clowney Bandwagon

77820352_8O'Brien: "We Will Draft A Quarterback"

77820352_8Hot Cheerleaders - Funny Faces

77820352_8Some College Cheer

From Our CBS Music Sites

77820352_8What Is The WORST Series Finale?

77820352_8What Is The BEST Baseball Movie?

77820352_8Nun Stuns All On The Voice Italy, Breaks YouTube Record

77820352_8Conan O'Brien Fires Off On Houston

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

HOUSTON (AP) — The alleged ringleader of a $20 million black market peso exchange scheme using drug money in Texas has been sentenced to nearly 16 years in prison.

Prosecutors say 43-year-old Enrique Morales of Houston and Guadalajara, Mexico, led the money laundering scam going back to 2009.

Morales pleaded guilty to conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. A federal judge in Houston on Wednesday ordered Morales to serve 188 months behind bars.

Investigators say drug money laundered through Texas sham business bank accounts was then sent to accounts in the U.S. and Mexico. In exchange, pesos were transferred back to accounts owned by the organization’s clients.

Three money couriers who also pleaded guilty were sentenced Wednesday to prison terms of up to 10 years.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus