A professor at the University of Miami was charged this week after he allegedly put his expert knowledge about the ins and outs of crime in America to use as he was brought up on charges for laundering over 3 million dollars and keeping roughly $300,000 for himself from crime groups in Latin America.
Bruce Bagley, a long time professor and well-known expert witness and commentator on all things crime from drug smuggling to organized crime was arrested by the FBI on Monday and was immediately placed on administrative leave from his teaching position.
The author of the book “Drug Trafficking, Organized Crime, and Violence in the Americas Today,” could be facing up to 60 years in prison if found guilty for one count of conspiracy to commit money laundering and two counts of money laundering.
What is Money Laundering?
Florida law defines money laundering as, “a financial transaction or series of transactions used to conceal, disguise, hide, or process money and other proceeds generated through criminal activity. The proceeds may be gained through any felony prohibited by state or federal laws. A prosecutor must show that the defendant knew about the underlying criminal activity or the unlawful source of the proceeds. The prosecutor must also prove that the defendant knew about the intended use of the financial transaction to protect the proceeds gained from criminal activities.”
In this case, Bagley is said to have opened bank account under a company he created with his wife called Bagley Consultants Inc in 2005 that had very little activity until suddenly in 2017 deposits of $200,000 at a time began coming in from random businesses and countries around the world. It’s said that he had a routine where he would transfer 90% of the money into another person’s account, keeping a 10% fee for himself. Over the course of time, he had made $300,000 dollars in the scheme.
What Should You Do if You are Accused of Money Laundering?
If you or someone you know are being charged with a crime such as money laundering, it’s wise to seek the assistance of an experienced criminal defense attorney for representation during the trial process. Russell Spatz is a skilled attorney with decades of success with these types of crimes. His knowledge and attention to detail make him an asset to your case. Give him a call today at 305-442-0200.
References:
“Florida Money Laundering Laws.” Findlaw, https://statelaws.findlaw.com/florida-law/florida-money-laundering-laws.html.
Ovalle, David, and Jay Weaver. “Miami Professor Who Wrote Book on Organized Crime Laundered Millions in Dirty Money, Feds Say.” Miamiherald, Miami Herald, 18 Nov. 2019, https://www.miamiherald.com/news/local/crime/article237501044.html.