Two Jamaican men have been convicted for their involvement in an international money laundering operation that funneled over $6 million in drug trafficking proceeds through U.S., Caribbean, and European financial institutions, the U.S. Attorney’s Office for the District of Massachusetts announced on January 17.
St. Devon Anthony Cover, 61, was found guilty of one count of conspiracy to commit money laundering and seven counts of laundering monetary instruments. Dennis Raymond Rowe, 59, was convicted of one count of conspiracy to commit money laundering, one count of money laundering, and two counts of laundering monetary instruments.
Both men were among 20 individuals indicted in May 2022 for their roles in laundering drug money through the Colombian Black Market Peso Exchange.
The investigation revealed that over $1 million was seized from corporate bank accounts during the operation. Additionally, nearly 3,000 kilograms of cocaine, valued at more than $90 million, were traced back to the money laundering network. This included a seizure of 1,193 kilograms off the coast of Jamaica in July 2019 and another 1,555 kilograms at Colombia’s Port of Buenaventura in March 2019.
The criminal scheme involved converting U.S. drug proceeds into Colombian pesos through peso brokers, who used couriers to deliver bulk cash. The money was then deposited into U.S. bank accounts disguised as legitimate business transactions and transferred to individuals and companies in Colombia.
Cover was involved in laundering $268,000, while Rowe laundered more than $600,000 by delivering bulk drug cash to undercover agents.
This conviction highlights the ongoing efforts to dismantle international drug money laundering networks and curb the flow of illicit funds across borders.