KJZZ is a service of Rio Salado College,
and Maricopa Community Colleges

Copyright © 2024 KJZZ/Rio Salado College/MCCCD
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Rio Rico Bank Manager Faces 30 Months In Cross-Border Money Laundering Scheme

The U.S. government argues that Carlos Vasquez deserves a 30-month sentence. In arguments filed earlier this week, prosecutors say money launderers from Mexico moved more than $10 million through the Rio Rico, Arizona bank branch he managed. 

They contend he created a no-questions-asked climate that welcomed their business. 

The United States has cracked down on money laundering near the U.S.-Mexico border for several years. In fact, banks have done away with border region branches because of those crackdowns. 

In Vasquez’s case, prosecutors have argued successfully that banks closer to the border and its ports of entry in Nogales treated money launderers with more suspicion. Vasquez, they argued, greeted their business with a handshake and a smile.

Fronteras Desk senior editor Michel Marizco is an award-winning investigative reporter based in Flagstaff.