Richard Medina Jr., an attorney with a law degree from the University of San Diego, was sentenced on September 6 to five years in prison for operating an unlicensed money transmitting business. He had been charged with money laundering two years ago.
Last year, he pleaded guilty to funneling almost $12 million through his law firm's client accounts. Medina and three co-defendants attempted to operate as an organization for transferring cash on behalf of third parties. But Medina and his cohorts did not register the business with the Secretary of the Treasury. They claimed they could send cash anywhere in the world.
Medina and his co-defendants went to great lengths to cover up the laundering. They traveled all over the United States to avoid detection. A financial institution must fill out papers for cash transactions exceeding $10,000. They made deposits in New York, Illinois, Georgia, and several other states. Medina admitted that he was the leader of the gang.
Two of the co-conspirators, Omar Trevino Caro Del Castillo and Francisco Cuevas, have already been sentenced, but to shorter terms.