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Oscar Sánchez pleads guilty to laundering millions of dollars into Cuba’s national bank


Luis Fernandez will be interviewed today on America Noticias, Canal 41, to discuss the recent case of Oscar L. Sánchez who recently plead guilty to laundering millions of dollars into Cuba’s national bank.

According to his plea agreement, Sánchez has agreed to “cooperate fully” with the U.S. Attorney’s Office in hopes of reducing a potential prison sentence of at least nine (9) years. Sánchez is expected to provide details about others who were involved in the laundering by providing financial records, testimony and other evidence.

Sánchez was indicted on the single conspiracy charge in laundering the  proceeds of 70 South Florida medical companies that falsely billed Medicare for $374.4 million and were paid $70.7 million. Those payments were directly deposited into their corporate bank accounts.

As part of his plea agreement, Sánchez was granted a $1.55 million bond which will allow him to deal with a medical issue, said his Miami defense attorney, Peter Raben.

As part of his money laundering scheme, Sánchez met with several individuals who controlled shell companies with 15 bank accounts in Canada and Trinidad who wanted to move millions of dollars derived from criminal and other activities into Cuba’s banking system.

They had purchased more than 20 boxes of money orders, moving money in amounts less than $10,000 at a time to avoid having to declare the source of the funds under U.S. laws. They used aliases, including the name “Bill Clinton,” according to court records.

Records show that for a 10 percent fee, Sánchez matched up the people who supplied the money to individuals who would then send checks or wire money drawn from their South Florida corporate bank accounts to shell companies in Canada.

The laundered money was deposited in accounts at the Royal Bank of Canada in Montreal, with the proceeds later wired to numerous shell companies in Trinidad. From there, the money would be deposited into unknown accounts in Cuba’s national bank.

Sánchez is scheduled to be sentenced on  November 8th before U.S. District Judge Paul Huck.
Watch Luis Fernandez interviewed by America Teve:
Implicado en fraude al medicare cooperará con la fiscalía

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