NEW YORK (WSVN) — A Miami man who holds dual citizenship in France and Colombia has been convicted of running a massive money laundering operation that funneled more than $300 million in drug proceeds for transnational criminal organizations, including the Sinaloa Cartel, federal officials announced.
A federal jury in Brooklyn found 51-year-old Alain Bibliowicz Mitrani guilty Friday on all five counts of a superseding indictment following a two-week trial. The charges included money laundering conspiracy, bank fraud conspiracy, conspiracy to operate an unlicensed money transmitting business, and operating an unlicensed money transmitting business, according to the U.S. Department of Justice.
Prosecutors said Bibliowicz Mitrani led the scheme from approximately 2020 through 2024 using a company called Treebu, which he presented as a legitimate technology business. In reality, authorities say it operated as a front for an international money laundering network based in Florida and Colombia.
Trial evidence showed the operation converted illicit drug proceeds — including cryptocurrency tied to cartels in Colombia and Mexico — into cash using shell companies, U.S. bank accounts, and complex financial transactions. Prosecutors said the scheme was designed to conceal the source of the money before sending it back to traffickers in exchange for a fee.
Authorities also said Bibliowicz Mitrani misled financial institutions about the true purpose of his businesses and failed to register as a money transmitting business, allowing the operation to move hundreds of millions of dollars through the U.S. financial system without detection.
Prosecutors said he used the illegal proceeds to support a lavish lifestyle, including payments toward an approximately $4 million Miami mansion, luxury travel, high-end international hotel stays, and expensive jewelry purchases from Van Cleef & Arpels.
Federal officials credited the investigation to a joint effort by the FBI, Homeland Security Investigations, and IRS Criminal Investigation.
Bibliowicz Mitrani faces up to 70 years in federal prison when sentenced.
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
Leave a Reply