A Cypriot national pleaded guilty in federal court in Boston to money laundering.

Esam Sakkal, 40, a national of Cyprus, pleaded guilty to one count of money laundering conspiracy and two counts of laundering of monetary instruments.

Sakkal and his brother, Nabeel Sakkal, a dual national of Cyprus and Jordan, were indicted in June 2017. Nabeel Sakkal remains a fugitive.

According to court documents, on numerous occasions between 2009 and 2014, the Sakkals met with a United States undercover law enforcement agent posing as a member of a drug organization whose role it was to launder money from drug sales. According to court documents, the Sakkals laundered money given to them by the undercover agent, believing the money to be proceeds from drug sales.

He faces up to 20 years in prison, three years of supervised release and a fine of $250,000, if convicted.

Sentencing is scheduled for July 10, 2018.

Man Pleads Guilty to Money Laundering

by Banker & Tradesman time to read: 1 min
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