WESTBOROUGH, Mass. -- The U.S. attorney's office in Massachusetts has released a photo showing $20 million that was found hidden in a box spring in a Massachusetts apartment earlier this month.
A judge on Monday ruled 28-year-old Cleber Rene Rizerio of Brazil is a flight risk and ordered him held on a charge of conspiring to commit money laundering.
Rocha was arrested earlier this month when the money was discovered in the apartment.
Prosecutors claim Rocha was part of a scheme to transfer millions of dollars to Brazil by laundering it through Hong Kong.
The money was from TelexFree, a defunct internet phone company that authorities claim was a massive pyramid scheme.
Although the money was initially aimed at Brazilian immigrants to Massachusetts, authorities allege nearly 1 million people worldwide were swindled out of nearly $1.8 billion.
Rocha's lawyer argued his client had no criminal record and should be granted bail with GPS monitoring, the Boston Herald reported.