Bank Manager at Wells Fargo charged in Money Laundering case

A bank manager was indicted by a federal grand jury for allegedly using his position at a Wells Fargo branch to organise withdrawals related to narcotics trafficking proceeds.

Stephen Roland Reyna was granted a $50,000 bond following a detention hearing on Friday. Documents show that Reyna was arrested on July 28.

According to records, his court date was pushed back due to the Willacy County Regional Detention Facility adhering to guidelines from the Centers for Disease Control and Prevention that recommends a 14-day quarantine for all new inmates.

Reyna faces one count of conspiracy to launder monetary instruments. The charge carries a penalty of up to 20 years in federal custody and a fine of $500,000 or twice the value of funds collected through the scheme that are subject to criminal forfeiture.

The partially unsealed indictment shows that Reyna allegedly participated in the narcotics distribution operation between 2016-2018 with a number of others, though the document does not state the number of co-conspiritors.

Prosecutors allege that Reyna and these co-conspirators would “ship narcotics, including multiple kilograms of cocaine, from the Southern District of Texas to other states.”

“Once the narcotics were delivered successfully to co-conspirators in those states, proceeds of the narcotics deliveries would be deposited into bank accounts in those states, including Wells Fargo Bank accounts.”

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