BOSTON — A Rhode Island man admitted his role in a complex international money laundering and drug trafficking ring in federal court on Wednesday. Agustin Villa, 61, pleaded guilty to conspiracy to commit money laundering, a charge that could result in a sentence of up to 20 years in prison. U.S. District Court Judge Angel Kelley has scheduled Villa’s sentencing for November 25, 2024.
The case is part of a broader investigation into a sophisticated criminal organization, led by Jin Hua Zhang of Staten Island, New York, that was first detected in the greater Boston area in 2021. In May 2023, a federal grand jury in Boston indicted 12 individuals from multiple states, including Massachusetts, Rhode Island, New York, and California, for their alleged involvement in the operation. Zhang’s organization is accused of laundering at least $25 million in drug proceeds and profits from other illegal enterprises over a span of less than a year.
Villa was identified as a courier for a drug trafficking organization that utilized Zhang’s network to launder money. On May 26, 2022, Villa delivered more than $75,000 in cash to a cooperating witness. These funds were subsequently converted into Tether, a form of cryptocurrency, and transferred to Zhang after deducting a fee. Investigators tracked the laundered funds from the Zhang organization to locations including Hong Kong, China, India, Cambodia, and Brazil, ultimately leading to the seizure of cash and cryptocurrency in accounts tied to Zhang.
The charge of money laundering conspiracy carries a maximum penalty of 20 years in prison, three years of supervised release, and a fine of up to $500,000 or twice the amount involved, whichever is greater. The final sentence will be determined by a federal district court judge based on the U.S. Sentencing Guidelines and statutory considerations.
