A Houston couple, Vinh Quang Phan and Diana Le Phan, have been sentenced to 120 months in federal prison for unlicensed money transmitting and money laundering. The announcement was made by U.S. Attorney Alamdar S. Hamdani following their guilty pleas on June 18.

U.S. District Judge Keith Ellison also ordered the couple to serve three years of supervised release after their prison terms. They are required to pay $80,000 in fines and forfeit their Houston home, $16,198 in cash seized during their arrests, and over $470,000 from seized accounts.

During the sentencing hearing, it was revealed that the Phans were already wealthy before engaging in criminal activities. Judge Ellison commented on the case stating, “This is one of the least sympathetic cases of need I have encountered.” He added his concerns about how crime impacts families: “I wish people would think about their families before they commit crimes.”

Hamdani emphasized the severity of the case by saying, “Crime flourishes only when it pays, and Vinh and Diana Phan helped it pay... Now their bill is due.” He highlighted how professional money launderers harm financial systems by circulating illegal funds.

Acting Special Agent in Charge Lucy Tan from IRS Criminal Investigation’s Houston Field Office explained that agents reviewed records from over 20 financial institutions and virtual currency companies as part of a complex investigation involving approximately 40 search warrants and numerous witness interviews.

The investigation revealed that the Phans operated an unlicensed business transmitting funds received as bulk cash from drug trafficking activities. Over a period of 21 months, they transmitted more than $33 million through nine "money mules" into banking systems to purchase virtual currency later sold for cash in California.

The couple's operation aimed to avoid risks associated with physically transporting large sums of cash across states—a method they used until January 2020 when they were robbed at gunpoint losing $440,000.

Despite operating such a business model involving significant sums related to controlled substances trafficking, neither federal nor state authorities licensed or registered them for money transmission activities.

Currently allowed to remain on bond pending surrender arrangements with U.S Bureau Prisons facilities yet determined; this outcome follows efforts led by IRS Criminal Investigation’s South Texas High Intensity Drug Trafficking Areas Financial Crimes Task Force supported notably DEA along local police agencies under OCDETF program auspices targeting high-level criminal enterprises nationwide leveraging multi-agency collaborations effectively dismantling threats posed domestically transnationally alike through intelligence-driven approaches prosecutors guide toward resolution accordingly ensuring justice served appropriately per law stipulations governing jurisdictional mandates overseeing operations within remit purview entrusted entities charged enforcement duties therein contextually applicable frameworks operative considerations guiding procedural adherence stipulated regulations prescribed contexts outlined circumstances warranting interventions requisite achieve desired outcomes 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