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California man gets 5 years for money laundering

Gavel with Scales of Justice (FILE)
Posted at 12:19 PM, Jun 09, 2022
and last updated 2022-06-09 15:19:30-04

MADISON, Wis. (AP) — A federal judge in Madison has sentenced a California man to five years in prison for his role in a money laundering scheme.

U.S. District Judge William Conley sentenced Sinval De Oliveira of Torrance on Wednesday.

According to prosecutors, De Oliveira was part of a group that persuaded businesses to turn over their cash-on-hand to fake money couriers. De Oliveira in 2020 flew to Milwaukee where he picked up nearly $243,000 in fraudulent proceeds and deposited them into a funnel account through multiple ATM deposits. The money was eventually transferred overseas.

Prosecutors said that Conley determined the Wisconsin transactions were part of De Oliveira's larger pattern of nationwide money laundering activity, finding that he laundered more than $5.1 million in the five months surrounding the Wisconsin transactions.

De Oliveira pleaded guilty in March.