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Guatemalan nationals Juan Quevedo-Garcia, 40, and Magda Quevedo-Garcia, 35, were booked into the Bergen County Jail on Thursday and ordered released by a judge hours later, records show.
Both are scheduled for first appearances Monday in Central Judicial Processing Court in Hackensack.
Juan Quevedo-Garcia, of Fairview, owns commercial framing and excavation businesses in Palisades Park, while Magda Quevedo-Garcia, of Palisades Park, owns and operates a nail salon in Leonia, among other enterprises, Bergen County Prosecutor Mark Musella said Friday.
He didn’t say how they are related to one another.
Members of the prosecutor’s Financial Crimes Unit got a tip in April about “suspicious and unusual money transactions by business entities” owned by the two, Musella said.
Over a three-year period, investigators learned, the pair “attempted to conceal approximately $5,700,000 by passing the money through a check casher,” he said.
“Cash deposits were then broken down into multiple smaller sums at several different financial institutions in order to evade anti-money laundering reporting laws,” Musella said.
In 2017 and 2018, Juan Quevedo-Garcia “failed to report and pay taxes on approximately $1,800,000 in income to the state of New Jersey,” he said.
It wasn't immediately clear whether all or any of the businesses were legitimate entities.
He and Magda Quevedo-Garcia were charged with money laundering, illegal financial structuring and conspiracy.
Juan Quevedo-Garcia – whose businesses include FrameQ LLC, BB Frame LLC, QV Excavation LLC and Q Properties, Musella said -- also was charged with failure to pay state taxes or file a return.
Musella’s detectives were assisted by their colleagues at the New Jersey Department of Treasury Division of Taxation’s Office of Criminal Investigation, the prosecutor said.
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