Two Jamaican men were convicted in a Boston federal court for their roles in an elaborate money laundering operation tied to Colombian drug cartels, which moved over $6 million in drug trafficking proceeds through banking systems in the United States, Caribbean, and Europe.
St. Devon Anthony Cover, 61, and Dennis Raymond Rowe, 59, were found guilty after a four-day jury trial. Cover was convicted on one count of money laundering conspiracy and seven counts of laundering monetary instruments. Rowe was convicted on one count of money laundering conspiracy, one count of money laundering, and two counts of laundering monetary instruments. Their sentencing, overseen by U.S. District Court Judge Richard G. Stearns, will be scheduled at a later date.
The convictions stem from a sweeping investigation that led to the indictment of 20 individuals from Jamaica, Colombia, and Florida in May 2022. Authorities seized $1 million from corporate bank accounts during the operation and traced nearly 3,000 kilograms of cocaine—valued at over $90 million—back to the money laundering network. Key drug seizures included 1,193 kilograms of cocaine intercepted at sea, 60 miles south of Jamaica in July 2019, and 1,555 kilograms of cocaine found in scrap metal shipping containers in Colombia’s Port of Buenaventura in March 2019.
“This case highlights the unyielding commitment of our office and law enforcement partners to dismantle the financial networks enabling international drug cartels,” said U.S. Attorney Joshua S. Levy. “These convictions are a reminder that every link in the drug trade—from the cartels to the financiers—will face accountability.”
The Drug Enforcement Administration (DEA) also emphasized the public safety risks of laundering drug proceeds. “Those who choose to launder drug money endanger our communities. We will continue to prosecute these individuals aggressively,” said Stephen Belleau, Acting Special Agent in Charge of the DEA New England Field Division.
5-year money laundering investigation
The case revealed the intricate operations of a Barranquilla, Colombia-based money laundering organization that relied on the Colombian Black Market Peso Exchange (BMPE) to conceal drug proceeds and evade currency exchange regulations. Between 2016 and 2021, the organization funneled millions of dollars through intermediary banks in the United States, including some in Massachusetts, as well as through banking systems in the Caribbean and Europe.
The BMPE involved peso brokers exchanging Colombian pesos for U.S. dollars derived from drug sales. These brokers used couriers to collect drug proceeds in bulk, often in suitcases or bags, and deposited the funds into U.S. bank accounts under the guise of legitimate business transactions. The proceeds were later transferred to Colombian businesses seeking U.S. dollars at favorable exchange rates, thereby avoiding regulatory scrutiny.
Cover laundered approximately $268,000 during the scheme, while Rowe laundered over $600,000 by delivering bulk cash to undercover agents.
Both men face up to 20 years in prison, three years of supervised release, and fines of up to $500,000 or twice the laundered amount. Sentences will be determined based on U.S. Sentencing Guidelines.
