handcuffs next to a pile of cash Source: Shutterstock.

A New York man admitted in federal court Tuesday he was part of a scheme that channeled $1 billion in high-risk transactions, including millions of dollars of bulk cash transactions from a Mexican bank, to New York State Employees Federal Credit Union.

Hanan Ofer, 69, pleaded guilty to failing to maintain an effective anti-money laundering program in violation of the Bank Secrecy Act, according to a prepared statement from the U.S. Attorney’s office for the Eastern District in Brooklyn, N.Y.

Peter Strozniak

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