Retired University of Miami professor Bruce Bagley faces up to 20 years in prison after pleading gulity in New York to laundering money from a bribery scheme in Venezuela. Above, the Thurgood Marshall United States Courthouse in New York.
Photo: Drew Angerer/Getty ImagesA retired University of Miami professor who wrote a book on organized crime pleaded guilty Monday to laundering money from a bribery scheme in Venezuela.
The charges against Bruce Bagley sparked a slew of headlines last November. A noted expert on crime and corruption in Latin America, Mr. Bagley had been quoted extensively in the media, including The Wall Street Journal, in articles about drug cartels, violence and corruption.
On Monday, Mr. Bagley pleaded guilty to two counts of money laundering, according to prosecutors.
The professor had gone “from writing the book on crime—literally writing a book on drug trafficking and organized crime—to committing crimes,” the top federal prosecutor in Manhattan, Geoffrey Berman, said in a statement.
Mr. Bagley faces up to 20 years in prison and is scheduled to be sentenced in New York in October.
An indictment filed in November accused Mr. Bagley of laundering $3 million in profits from foreign bribery and embezzlement schemes connected to public works projects in Venezuela.
The money came from overseas banks in Switzerland and the United Arab Emirates and flowed through a bank account in Weston, Fla., set up by Mr. Bagley using the name of a company he owned, prosecutors said.
Law-enforcement officials didn’t identify the individual behind the laundered funds in a statement released Monday, but have previously said the individual was Colombian. The overseas accounts were associated with a purported food company and wealth management firm located in the U.A.E., according to Mr. Bagley’s indictment.
Mr. Bagley was a member of the University of Miami’s international studies department, according to the school’s website. He was placed on administrative leave following the announcement of the money laundering charges.
A spokeswoman for the university said Monday that Mr. Bagley had since retired.
Write to Dylan Tokar at dylan.tokar@wsj.com
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