TEXAS: A 54-year-old El Paso business owner has been sentenced to 10 years in federal prison for his part in a money laundering scheme.
Eduardo A. Herrera, owner of Best for Less Collision Center in El Paso, pleaded guilty to one count of money laundering on Jan. 14, 2015.
In addition to the prison term, United States District Judge David Briones ordered that Herrera forfeit his business property valued at $411,000.00, and cash seized from four business bank accounts totaling $15,451.05.
Herrera’s sentence also included a $1 million money judgment.
According to court documents, a Homeland Security Investigations El Paso investigation determined that Herrera used Best for Less Collision Center for transnational drug smuggling, and money laundering.
Cocaine and marijuana was smuggled from Mexico and transported to users in Jacksonville, Florida.
The proceeds from the sale of the cocaine and marijuana were then sent to El Paso through several funnel accounts held in third party names.
Best for Less Collision Center withdrew the proceeds and covered deposits into the business’ bank accounts with false invoices, according to court documents.
More than $2 million has been identified as being funneled through third party accounts.
This case was investigated by special agents with Homeland Security Investigations and the Drug Enforcement Administration along with the El Paso Police Department as part of the El Paso Southwest Border FOCUS Financial Task Force. Assistant United States Attorney Joseph Blackwell prosecuted this case on behalf of the federal government.
