Prosecutors in Manhattan accuse Bagley, 73, an expert on international studies and a professor at the University of Miami, of laundering cash out from Venezuela into the United States, The Daily Mail reported.
Prosecutors claim that Bagley, co-author of Drug Trafficking, Organized Crime, and Violence in the Americas Today, played a key role in laundering over $2.5 million from the “proceeds of bribery and corruption, stolen from the citizens of Venezuela”, and set aside an estimated $250,000 for himself.
The lawsuit alleges that Bagley received and passed monthly cash deposits from bank accounts in Switzerland and the United Arab Emirates, transferring 90 percent of the money to a third party, while keeping a percentage for himself.
“Today's charges of money laundering and conspiracy should serve as an object lesson for Bruce Bagley, who now faces a potential tenure in federal prison,” said US Attorney Geoffrey S. Berman, quoted by The Daily Mail.
According to the report, a representative of the University of Miami said that the University was briefed Monday afternoon on the indictment against the professor.
“In light of this development, Professor Bagley is on administrative leave. As this is a personal matter in an ongoing investigation, the University has no further comment at this time,” a representative of the school said.
Although TDM reported that they have contacted Bagley, there has been no comment from the accused professor.
Prosecutors claim that they noticed “suspicious activity” in the period between November 2017 and October 2018, as the university professor received over $2.5 million from foreign bank accounts that were found to belong to a Colombian man whose name has not yet been revealed.
“As we allege, Bagley, an American professor, contributed to the success of illegal activity overseas, carried out against the Venezuelan people, by facilitating access to illicitly obtained funds, and profiting from his role in the crime,” according to FBI assistant director-in-charge William F. Sweeney Jr.
Sweeney suggested that Bagley’s story should be a lesson to others, warning that “involving oneself in public corruption, bribery, and embezzlement schemes is going to lead to an indictment”.