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Ranches laundered cocaine cash
©Associated Press
January 31, 2003
TALLAHASSEE -- A father, his two sons and another man face possible life prison terms after pleading guilty to laundering cocaine profits for a $2-billion Miami drug empire by purchasing cattle ranches in the Florida Panhandle.
Miguel Vega, 68, sons Nelson, 40, and Lazaro, 31, and Jose Cueto, 37, entered their pleas Wednesday in U.S. District Court here. The defendants, all Cuban-Americans, also agreed to forfeit the ranches.
Prosecutors said Miguel Vega was responsible for laundering profits from the distribution of cocaine during the past 20 years.
Vega bought a 776-acre ranch in Gadsden County and 794- and 118-acre ranches in Jackson County and ran them under the name Nelaz Ranch, prosecutors said.
The Vegas are set for sentencing April 16 and Cueto on April 18. There are among 10 people indicted Aug. 21 in Panama City. Five defendants earlier pleaded guilty.
Federal authorities have not yet said what they plan to do with the ranches, which remain in operation with several hundred head of cattle.
The elder Vega, already serving a 171/2-year prison term for money laundering, worked for reputed cocaine kingpins Sal Magluta and Willy Falcon.
A total of 36 people, including Falcon and Magluta, have been convicted in cases tied to the pair. Last week Magluta, 48, was given 205 more years in prison for jury bribery and money laundering.
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