Stablecoin Laundering Network Lands Colombian Crypto Broker in Prison

A Colombian cryptocurrency broker known as “Rey” has been sentenced to 160 months in federal prison for helping launder $14.5 million in drug proceeds using Tether’s USDT and participating in a cocaine importation conspiracy. The operation connected Colombian drug traffickers, an unlicensed American crypto exchange, and a web of shell companies. Prosecutors also secured a $14.75 million forfeiture order, while five co-defendants received prison sentences. The operation has landed the broker more than 13 years behind bars. On Wednesday, Oct. 21, 2026, federal prosecutors announced that Leonardo de Jesus Zuluaga Duque, 63, received a 160-month prison sentence for his role in laundering approximately $14.5 million and conspiring to import cocaine into the United States. The case also exposed a much larger financial operation handling hundreds of millions of dollars.

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