SNOW HILL, MD - A Texas man has pleaded guilty to conspiracy to commit a money laundering scheme that saw nearly $9 million laundered from victims across the United States, including the Worcester County Treasurer’s Office.
According to the Maryland U.S. Attorney’s Office, Jon Briceno, 42, of Katy, Texas, entered his guilty plea on Friday, July 19th. The Attorney’s Office says Briceno entered illegal partnerships with numerous co-conspirators beginning around June 2020 through February 2024 to conduct fraudulent financial transactions affecting interstate and foreign commerce.
Prosecutors say Briceno and his co-conspirators created numerous shell companies and opened bank accounts in order to receive and transfer the fraud proceeds while concealing their identities. As an organizer of the fraud scheme, Briceno directed his accomplices to open bank accounts in their names or under the shell companies names, informed them when fraudulent funds had been transferred to them, telling them where to wire the funds, and keeping records of transfers and fund receipts.
Among the victims of the fraudulent activity was the Worcester County Treasurer’s Office in Snow Hill, with Briceno’s scheme targeting the office 12 separate times from November 2020 to January 2021. Prosecutors say Briceno’s scheme utilized a business email compromise, convincing an accounting manager in Worcester County to direct payments to an account Briceno controlled in fraudulent emails regarding bills.
The Attorney’s Office says Worcester County was scammed out of $167,445.18. Briceno’s fraud schemes totaled at least $8,751,523 laundered from victims from numerous states across the U.S. and countries throughout the world, with Briceno receiving about $1,250,000 as his share.
Briceno then used those illegally acquired funds to make lavish purchases, invest in crypto-currency, and gamble. He also used some of the money to run a poker room in Texas, the Attorney’s Office says.
Briceno was arrested on February 2024 in Katy, Texas after authorities searched his home. He faces a maximum of 20 years followed by up to 3 years probation. His sentencing has been scheduled for October 24th.