A University of Miami professor of international studies who's facing federal money laundering charges appeared in a South Florida courtroom Thursday.
Bruce Bagley, 73, faces conspiracy to commit money laundering and two money laundering charges following his arrest Monday. Bagley didn't speak with reporters following the Thursday morning hearing, but his attorney said he'll continue to fight the charges.
"The allegations are serious and they're also surprising and shocking to most of us that know Dr. Bagley," attorney Daniel Forman said. "He's had a long and distinguished career as a University of Miami professor and before that at Johns Hopkins University, considered one of the world's experts in his particular area of expertise. So this has come as a great surprise to everyone.
"We're evaluating the case, but we're hopeful that at the end of the day, he'll be exonerated."
According to the indictment from the Southern District of New York, Bagley is accused of participating in a conspiracy to help others launder proceeds of a Venezuelan bribery and corruption scheme into the U.S. Prosecutors said Bagley opened bank accounts specifically to launder money for corrupt foreigners.
An indictment unsealed in Manhattan federal court said that from November 2017 through April, Bagley agreed to receive about 14 deposits from bank accounts in Switzerland and the United Arab Emirates totaling $3 million.
It said Bagley believed the funds generated through public works projects in Venezuela were derived from graft and corruption.
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According to the indictment, Bagley transferred the majority of the money into the bank accounts of a co-conspirator to conceal the nature, source and ownership of the funds. Authorities said Bagley kept a 10% commission for himself from the money he laundered.
Bagley, of Coral Gables, is the co-author of "Drug Trafficking, Organized Crime and Violence in the Americas Today," published in 2015, among other books, and has testified before Congress and as an expert in court and been interviewed by numerous news organizations.
In a statement earlier this week, UM said Bagley was placed on administrative leave. He remains free on $300,000 bail. If convicted, he could face up to 20 years in prison.
