Two Brothers Arrested in Major Money Laundering Case in Hidalgo
In a significant development in the fight against money laundering, two brothers from Hidalgo have been arrested following a comprehensive multi-year investigation conducted by Homeland Security Investigations (HSI). The suspects, Sergio and Francisco Perez, face serious charges of money laundering, linked to the illicit importation of bulk cash into the United States.
Origins of the Investigation
The investigation commenced on January 4, 2022, when officers from the Victoria County sheriff’s department initiated a traffic stop on a 2002 Dodge Caravan. During the stop, the driver, identified as "co-conspirator #1" in the subsequent criminal complaint, consented to a search of the vehicle. To the officers’ surprise, they discovered multiple bundles of cash, totaling $231,662, skillfully concealed within a void in the rear quarter panel of the van.
Following this discovery, HSI agents were brought in, leading to an interview with co-conspirator #1. The individual confessed to smuggling cash derived from drug proceeds, which directly implicated Sergio and Francisco Perez as recipients of this illicit currency.
Key Events Unfolding at the Hidalgo Ports
The investigation took a crucial turn on January 8, 2024, when agents encountered a second co-conspirator, identified as co-conspirator #2, at the Hidalgo Port of Entry. During this encounter, she declared $60,112 in U.S. currency, which she claimed was from the sale of used clothing at Leo’s Clothing, a store reportedly owned by the Perez brothers. For around three decades, co-conspirator #2 had claimed to be transporting and declaring cash on behalf of Leo’s Clothing, with no clarity on the true nature of the funds.
Just months later, on April 5, 2024, agents apprehended Sergio while he was declaring approximately $117,000 at the Pharr Port of Entry. HSI special agents, suspecting his potential involvement as an unlicensed money transmitter, conducted an interview that would later reveal significant details about the operation’s inner workings.
The Brothers’ Statements and Connections
During his interrogation, Sergio explained how his involvement began when co-conspirator #2 contacted him for assistance in the sale and transport of shoes. When shown a photograph of co-conspirator #1, Sergio identified them as the individual who provided him with the currency. He disclosed further information indicating that co-conspirator #2 had replaced co-conspirator #1 with another courier after the latter’s apprehension.
Sergio also revealed that he had been cautioned about the potential legal ramifications of handling the cash and admitted, albeit reluctantly, that he suspected the money had illicit origins.
On May 7, 2024, HSI agents identified co-conspirator #3, corroborating Sergio’s statements. Co-conspirator #3 was also apprehended while transporting cash, further tightening the web around the Perez brothers.
Francisco’s Role in the Operation
In a parallel investigation, Jeremy was also interrogated by special agents at the Hidalgo Port of Entry. Francisco admitted that he and his siblings operated a used clothing business in Hidalgo County but insisted that the cash declared was solely from legitimate sales. However, the investigation raised alarm bells, revealing that associates related to Francisco’s business had imported over $2,114,483 in U.S. cash since August 2022, with no export documentation whatsoever.
When pressed on whether he sourced cash from others in Mexico, Francisco confirmed purchasing currency from co-conspirator #3, ignoring any inquiries about the origins of that money due to potential cartel connections, stating it was "best not to ask."
Legal Proceedings and Implications
Both Sergio and Francisco Perez made their initial appearances in McAllen federal court before U.S. Magistrate Judge Nadia S. Medrano. The ramifications of their alleged actions could extend beyond mere financial penalties, considering that money laundering is taken very seriously under U.S. federal law.
Conclusion
This intricate case shines a light on the ongoing battle against money laundering in the United States, highlighting how drug-related finances can infiltrate legitimate businesses. The swift actions of law enforcement underscore the importance of vigilance and collaboration in tackling financial crimes.
For more information about money laundering and its implications, please refer to the U.S. Department of Justice and Homeland Security Investigations websites.
