Stablecoin Laundering Network Lands Colombian Crypto Broker in Prison

A Colombian cryptocurrency broker known as “Rey” has been sentenced to 160 months in federal prison for helping launder $14.5 million in drug proceeds using Tether’s USDT and participating in a cocaine importation conspiracy. The operation connected Colombian drug traffickers, an unlicensed American crypto exchange, and a web of shell companies. Prosecutors also secured a $14.75 million forfeiture order, while five co-defendants received prison sentences. The operation has landed the broker more than 13 years behind bars. On Wednesday, Oct.