On October 30, 2012, Pedro Juan Adum was sentenced to five years of probation, 180 days of home confinement, and fined $25,000. On June 25, 2012, Adum pleaded guilty to Transactional Money Laundering. Adum was a business owner in Phoenix at the time he was charged with money laundering.
According to the plea agreement, Adum admitted he knowingly engaged in a monetary transaction by, through and to a financial institution, affecting interstate or foreign commerce, in criminally-derived property of a value greater than $10,000.00. Adum negotiated a wire transfer which was the direct result of the proceeds of a fraudulent real estate purchase. Specifically, on August 2, 2006, he caused an electronic transfer of $300,000 from an account at Bank One to be transferred into a personal checking account he owned and controlled. Adum admitted he knew the $300,000 represented the proceeds of a fraudulent real estate transaction.
The case was investigated by IRS Criminal Investigation and the Drug Enforcement Administration.