Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Ex-Honduran cabinet official pleads guilty in U.S. money laundering case

Published 29/08/2017, 23:40
© Reuters. Yankel Rosenthal Coello exits the Manhattan U.S. District Courthouse in New York City

By Brendan Pierson

NEW YORK (Reuters) - A former member of Honduran President Juan Orlando Hernandez' cabinet pleaded guilty in a New York federal court on Tuesday to attempting to launder drug money from the Central American country, prosecutors said.

Yankel Rosenthal, who served as minister of investment under Hernandez, entered his plea before U.S. District Judge Valerie Caproni in Manhattan, prosecutors said. His lawyer, Samidh Guha, had no immediate comment.

Rosenthal, 48, was charged in October 2015 along with his father, Jaime Rosenthal, a former vice president of Honduras.

His cousin, Yani Rosenthal, a veteran politician and two-time presidential candidate, was also charged in the laundering scheme along with Andres Acosta Garcia, a lawyer with the family's Grupo Continental conglomerate.

Yani Rosenthal pleaded guilty on July 26, and Acosta pleaded guilty on Aug. 16, prosecutors revealed Tuesday. Jaime Rosenthal remains at large.

The four men engaged in bribery and a multi-year conspiracy to launder the proceeds of narcotics trafficking through accounts located in the United States, prosecutors said.

They said Acosta and the Rosenthal family worked to help a powerful Honduran drug trafficking organisation known as the Cachiros.

Honduras has long been identified by U.S. drug enforcement officials as a transshipment point for South American cocaine and other drugs destined for the U.S. market.

Prosecutors have also accused Rosenthal of funnelling bribes from drug traffickers seeking official protection to Yani Rosenthal as campaign contributions, and of soliciting a bribe for a Honduran politician from an unnamed U.S. company seeking oil exploration rights in Honduras.

Rosenthal also received money from a drug trafficker in the form of an investment in a football club he controlled, C.D. Marathón, and tried to launder drug proceeds through U.S. real estate transactions, prosecutors said.

© Reuters. Yankel Rosenthal Coello exits the Manhattan U.S. District Courthouse in New York City

Rosenthal is scheduled to be sentenced on Jan. 19, 2018, Acosta on Jan. 12, 2018, and Yani Rosenthal on Oct. 13, 2017.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.