MIAMI – A Hialeah man has been sentenced to more than two years in prison for illegally sending money to Cuba.
Karell Cordero, 40, previously pleaded guilty to one count of operating an unlicensed money transmitter business. He was sentenced to 30 months in prison, to be followed by two years of supervised release.
Federal prosecutors said Cordero owned and operated K&Y Multiservices in Hialeah, where he received euros and exchanged them for U.S. dollars. The transactions often involved tens of thousands of dollars, but Cordero did not submit the required reports to the U.S. Department of the Treasury.
In some instances, Cordero conducted the transactions knowing that the money was obtained from unlawful activity. Authorities monitored two separate meetings in which Cordero exchanged 240,000 euros for $326,900 in U.S. money. He was told that the money came from drug dealers in Mexico.
Prosecutors said Cordero also sent about $800,000 in exchange money to Cuba without filing the proper reports.
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