New Jersey man sentenced for multi-million dollar money laundering scheme

CAMDEN - A New Jersey man will spend more than two years in jail for a multi-million dollar money laundering scheme that prosecutors say spanned nearly three years.

Pablo Estrada, 27, was sentenced Wednesday to 33 months in prison for money laundering schemes that involved various scams starting in Aug. 2020.

Prosecutors say in one scam, victims were told they won a large sum of money and requested to pay fees and expenses to have the winnings released to them.

Estrada, a Florence resident, deposited money into various bank accounts that prosecutors say he "maintained for the purpose of receiving criminal proceeds." 

He was accused of then transferring the funds to other bank accounts and keeping a percentage for himself. It's believed Estrada laundered $4M using this tactic.

Estrada was also sentenced to three years of supervised release and ordered to pay restitution of $4.21M.