Man Gets 12 Years for Laundering Billions in Crypto
Jorge Figueira, a Venezuelan national living in Miami, was sentenced in federal court in Alexandria, Virginia, for conspiracy to launder money.
Updated on Nov. 3, 2026 in Financial Crime
Live Poll
Do you trust cryptocurrency platforms to keep criminal money out of the financial system?
Jorge Figueira was sentenced to 12 years in prison for conspiracy to launder money and agreed to a $1 billion money judgment. Prosecutors say he laundered billions of dollars for illicit actors, including drug trafficking organizations.
Why it matters
The case shows how criminal networks used bank accounts, cryptocurrency exchanges, private wallets and shell companies to move illicit funds. Federal prosecutors in the Eastern District of Virginia pursued the case, which highlights the enforcement focus on crypto-based money laundering.
Figueira was sentenced to 12 years in prison and agreed to a $1 billion money judgment in Case No. 1:26-cr-74 in the Eastern District of Virginia. The extraction does not specify any pending appeals or additional defendants.
The players
U.S. Attorney's Office for the Eastern District of Virginia
The federal prosecutor's office that announced the sentence and is handling the case in the Alexandria courthouse.
Catherine Rosenberg
An Assistant U.S. Attorney prosecuting the case against Figueira.
Edgardo Rodriguez
An Assistant U.S. Attorney co-prosecuting the case against Figueira.
The details
Figueira, 60, laundered funds using bank accounts, cryptocurrency exchange accounts, private cryptocurrency wallets and shell companies. Most inbound funds came from cryptocurrency trading platforms, and outbound funds went to businesses and individuals in the United States and abroad, including Colombia, China, Panama and Mexico.
Timeline
Sentencing was announced on November 3, 2026, by the U.S. Attorney's Office for the Eastern District of Virginia.
Legal Context
Federal prosecutors have increasingly pursued cryptocurrency-based laundering networks that serve drug trafficking organizations, using money laundering conspiracy statutes. Figueira's case fits that pattern, combining conventional bank accounts with crypto exchanges and shell companies.
Cryptocurrency exchanges and banks face continued scrutiny over how their accounts are used to move illicit funds. Residents and businesses in the Alexandria area may see continued federal enforcement focus on financial crime cases from the Eastern District of Virginia.
The takeaway
Money laundering schemes increasingly blend traditional banking with cryptocurrency platforms, making transaction monitoring across both essential. Readers who handle digital assets should understand that federal authorities actively trace funds through exchanges and shell companies.
Further reading
Explore more financial crime coverage for context on how federal prosecutors pursue money laundering networks.
Source note: This article includes information reported by The United States Department of Justice.
Live Poll
Do you trust cryptocurrency platforms to keep criminal money out of the financial system?
