Two men from Jamaica have been found guilty by a federal jury in Boston for their roles in an international money laundering scheme. The organization reportedly laundered over $6 million derived from drug trafficking, involving Colombian cartels, through banking systems across the United States, Caribbean, and Europe.
St. Devon Anthony Cover, 61, was convicted on one count of money laundering conspiracy and seven counts of laundering monetary instruments. Dennis Raymond Rowe, 59, faced conviction on one count of money laundering conspiracy, one count of money laundering, and two counts of laundering monetary instruments. U.S. District Court Judge Richard G. Stearns will set sentencing at a later date. These individuals were part of a group of 20 people indicted by a federal grand jury in May 2022 concerning this conspiracy.
The investigation led to the seizure of $1 million from corporate bank accounts and traced nearly 3,000 kilograms of cocaine valued at over $90 million back to the organization. This included significant seizures in July 2019 near Jamaica and March 2019 at Colombia's Port of Buenaventura.
“Today’s convictions reflect the relentless efforts of this office and our law enforcement partners to dismantle the sophisticated financial networks that fuel international drug cartels," stated United States Attorney Joshua S. Levy. "This case demonstrates that we will hold accountable all players in the illicit drug operations that have had a devastating impact on Massachusetts.”
Stephen Belleau, Acting Special Agent in Charge of the Drug Enforcement Administration's New England Field Division remarked: “Those who choose to launder money from drug proceeds are endangering the general public in Massachusetts.”
The operation was investigated starting around October 2016 with focus on a sophisticated organization primarily based in Barranquilla, Colombia. Over five years, it laundered over $6 million through intermediary banks including those in Massachusetts using the Colombian Black Market Peso Exchange (BMPE). This method allowed concealment from law enforcement while evading currency exchange requirements.
Through BMPE operations, peso brokers exchanged pesos for dollar proceeds generated by Colombian drug trafficking organizations within the U.S., using couriers to transfer these funds into legitimate-appearing bank accounts or via small deposits consolidated into larger accounts.
Cover laundered approximately $268,000 while Rowe handled over $600,000 by delivering bulk cash to undercover law enforcement agents during this period.
Both charges carry potential sentences up to 20 years imprisonment along with fines up to twice the amount involved or $500,000 whichever is greater; sentences will be determined based on U.S Sentencing Guidelines and relevant statutes.
U.S Attorney Levy along with DEA Acting SAC Belleau announced these developments alongside officials like Thomas Demeo from IRS Criminal Investigation Boston Field Office; Aura Liliana Trujillo Rojas representing Colombian Attorney General’s Office; Ricardo Sánchez Silvestre Brigadier General Colombian National Police Anti-Narcotics Directorate among others acknowledged significant assistance provided by Justice Department’s International Affairs Office securing arrests/extraditions involving Cover/Rowe/co-defendants hailing from both Colombia/Jamaica prosecuted under Assistant U.S Attorneys Jared C Dolan/Alathea E Porter Criminal Division auspices organized crime task force OCDETF initiative aimed disrupting/dismantling highest-level criminal organizations threatening US interests utilizing prosecutor-led intelligence-driven multi-agency approach more info https://www.justice.gov/OCDETF
Details within charging documents remain allegations pending court adjudication presumed innocent unless proven guilty beyond reasonable doubt