Drug Crime Expert Pleads Guilty to Money Laundering

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A retired University of Miami professor who wrote a book on organized crime laundered over $2 million in proceeds from a bribery scheme in Venezuela, according to prosecutors

By Dylan Tokar Close Dylan Tokar June 1, 2020 8:18 pm ET A retired University of Miami professor who wrote a book on organized crime pleaded guilty Monday to laundering money from a bribery scheme in Venezuela.

Newsletter Sign-up Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEWSUBSCRIBE The charges against Bruce Bagley sparked a slew of headlines last November. A noted expert on crime and corruption in Latin America, Mr. Bagley had been quoted extensively in the media, including The Wall Street Journal, in articles about drug cartels, violence and corruption.

Law-enforcement officials didn’t identify the individual behind the laundered funds in a statement released Monday, but have previously said the individual was Colombian. The overseas accounts were associated with a purported food company and wealth management firm located in the U.A.E., according to Mr. Bagley’s indictment.

Mr. Bagley was a member of the University of Miami’s international studies department, according to the school’s website. He was placed on administrative leave following the announcement of the money laundering charges.Write to Dylan Tokar at dylan.tokar@wsj.com

 

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