Five individuals charged in multi-million dollar money laundering conspiracy

Nov 4, 2021 · Sourced to the U.S. Department of Justice

The charges described here are allegations. The defendant(s) are presumed innocent unless and until proven guilty in a court of law. This page reflects only what the Department of Justice has publicly announced, and links to the original release.

A fifth individual has surrendered to authorities in relation to a multi-year, multi-million dollar money laundering conspiracy

District

Southern Texas

Announced

Nov 4, 2021

Status

Charged

Defendants

Michael Dean Richards — age 33 · Frisco · charged
Branden Denver Richards — age 29 · Dallas-Fort Worth Metroplex · arrested
Douglas Paul Michael Davis — age 27 · Dallas-Fort Worth Metroplex · arrested
Vinh Quang Phan — age 56 · Houston · charged
Diana Le Phan — age 44 · Houston · charged

Charges

Conspiracy to launder monetary instruments
Max: 20 years in prisonMichael Dean Richards· indicted
Conspiracy to launder monetary instruments
Max: 20 years in prisonBranden Denver Richards· indicted
Conspiracy to launder monetary instruments
Max: 20 years in prisonDouglas Paul Michael Davis· indicted
Conspiracy to launder monetary instruments
Max: 20 years in prisonVinh Quang Phan· indicted
Conspiracy to launder monetary instruments
Max: 20 years in prisonDiana Le Phan· indicted
Conspiracy to engage in monetary transactions in criminally derived property
Max: 10 years in prisonMichael Dean Richards· indicted
Conspiracy to engage in monetary transactions in criminally derived property
Max: 10 years in prisonBranden Denver Richards· indicted
Conspiracy to engage in monetary transactions in criminally derived property
Max: 10 years in prisonDouglas Paul Michael Davis· indicted
Conspiracy to engage in monetary transactions in criminally derived property
Max: 10 years in prisonVinh Quang Phan· indicted
Conspiracy to engage in monetary transactions in criminally derived property
Max: 10 years in prisonDiana Le Phan· indicted
Engaging in monetary transactions in criminally derived property (six counts)
Vinh Quang Phan· indicted
Engaging in monetary transactions in criminally derived property (six counts)
Diana Le Phan· indicted
Operation of an unlicensed money transmitting business
Max: 5 years in prisonVinh Quang Phan· indicted
Operation of an unlicensed money transmitting business
Max: 5 years in prisonDiana Le Phan· indicted
Conspiracy to operate an unlicensed money transmitting business
Max: 5 years in prisonVinh Quang Phan· indicted
Conspiracy to operate an unlicensed money transmitting business
Max: 5 years in prisonDiana Le Phan· indicted
Laundering monetary instruments
Diana Le Phan· indicted

Financial actions

money laundering: $32 million — Funds received and transmitted through unlicensed money transmitting business during the approximately 21-month conspiracy

Investigating agencies

Internal Revenue Service - Criminal InvestigationDrug Enforcement AdministrationHouston Police DepartmentOrganized Crime Drug Enforcement Task ForcesSouth Texas High Intensity Drug Trafficking Areas Financial Crimes Task ForceU.S. Attorney's Office

Case details

Prosecuting office: Southern District of Texas
Judge: Frances Stacy, U.S. Magistrate Judge

Cryptocurrency / Virtual CurrencyDrug Trafficking ProceedsInteragency Law Enforcement CooperationMoney LaunderingUnlicensed Money Transmitting Business

Primary source

Every fact above is drawn from the Department of Justice's own announcement — a public-domain government record.

Read the original DOJ release →

This is a research and reference page compiled from public DOJ announcements, not legal advice. Details reflect the government's statements as of its release date and may not capture later developments such as appeals, dismissals, or overturned convictions. Defendants are presumed innocent unless and until proven guilty.