Drug Enforcement Administration

San Gabriel Valley Man Sentenced to 3 Years in Federal Prison for Scheming to Launder Drug Money Via ‘Black Market Peso Exchange’

A West Covina man was sentenced today to 36 months in federal prison for laundering more than $900,000 in drug money over a two-year period via a “Black Market Peso Exchange” for Mexico-based drug traffickers.

 Oscar Sanchez, 52, was sentenced by United States District Judge Virginia A. Phillips. Sanchez pleaded guilty in November 2020 to a single-count information charging him with concealment money laundering.

Officials Tout Three-Year Effort to Reduce Crime in Compton

The reduction in crime — including double-digit declines in gang- related shootings and killings — was the result of a three-year partnership between the city, the Los Angeles County Sheriff’s Department, which patrols Compton, and federal agencies, officials said at a news conference at Compton City Hall.