The Sinaloa drug cartel and Chinese organized crime have a significant relationship, according to the Justice Department ( DOJ). A” 10-count superseding indictment” accuses Los Angeles-based Sinaloa drug gang associates of conspiring with money-laundering organizations connected to Chinese underground banks to launder drug trafficking money was announced in a press release from the DOJ. More than$ 50 million in drug proceeds were exchanged between the Sinaloa Cartel affiliates and Chinese underground money exchanges during the plot.
A multi-year investigation into the conspiracy, known as” Operation Fortune Runner,” led to the release of the accusation on Monday, which involved a total of 24 accused charged with one count of conspiracy to aid and abet the supply of heroin and methamphetamine, one count of conspiracy to launder money, and one count of conspiracy to operate an unregistered money broadcasting business.
Drug traffickers only care about their profits, according to US Attorney Martin Estrada, who said “dangerous drugs like fentanyl and methamphetamine are destroying people’s lives.” ” To protect our community, therefore, it is essential that we go after the sophisticated, international criminal syndicates that launder the drug money. We will continue to pursue those responsible for causing the destruction in our country and make sure they are held accountable for their actions, as this indictment and our international actions demonstrate.
” Drug traffickers use their illicit operations to make enormous amounts of money. This case is a prime example of Chinese money-launderers working with drug dealers to try to legitimize profits from drug dealing, according to Chief Guy Ficco of IRS Criminal Investigation. We have made it a priority to find, stop, and demolish any money-launderers affiliated with drug cartels, and we are committed to working with federal, state, and local law enforcement to combat drug cartels and those who assist them in laundering drug proceeds.
The Justice. According to the Gov website, the indictment was explained as follows:” Chinese and Mexican law enforcement informed United States authorities that those nations recently detained fugitives named in the superseding indictment who fled the United States after they were initially charged last year.
