Jury Convicts Owners of Miami Export Business of Operating Unlicensed Money Transmitting Business and Money Laundering

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Friday, December 1, 2017
Author: 
Bruce Zagaris
Volume: 
33
Issue: 
12
Abstract: 

 On November 15, 2017, after a two-week trial, a jury in the U.S. District Court for the Southern District of New York found Luis Diaz Jr. and Luis Javier Diaz, owners of Miami Equipment and Export Company (“Miami Equipment”), guilty of operating an unlicensed money transmitting business and international money laundering in connection with their transmission of over $100 million from foreign businesses into and through the U.S. financial system.  In addition, the jury convicted Diaz Jr. of conspiracies to operate an unlicensed money transmitting business and engage in international money laundering.