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China Syndrome: The Indictment Of The Sinaloa Cartel And Their Chinese Money Bundlers (Part 2)
Nov 21, 2024 ·
11m 30s
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China Syndrome: The Indictment Of The Sinaloa Cartel And Their Chinese Money Bundlers (Part 2)
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Description
A recent federal indictment unsealed in June 2024 details a sophisticated scheme involving the Sinaloa Cartel and Chinese money launderers in Los Angeles. The indictment charges 24 individuals, including key...
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A recent federal indictment unsealed in June 2024 details a sophisticated scheme involving the Sinaloa Cartel and Chinese money launderers in Los Angeles. The indictment charges 24 individuals, including key figures such as Edgar Joel Martinez-Reyes, with conspiracy to distribute drugs, launder money, and operate an unlicensed money-transmitting business.
This investigation, dubbed "Operation Fortune Runner," revealed that over $50 million in drug proceeds were laundered through an underground banking system linked to Chinese nationals. The money laundering network, based in the San Gabriel Valley of California, processed and concealed large amounts of drug trafficking proceeds, making them accessible to cartel members in Mexico and elsewhere. Methods used included trade-based money laundering, asset structuring, and the purchase of cryptocurrency.
The collaboration between U.S., Chinese, and Mexican law enforcement led to the arrest of several fugitives involved in this scheme. This case underscores the growing partnership between Mexican drug cartels and Chinese organized crime groups to launder drug money, which funds the production and distribution of dangerous drugs like fentanyl and methamphetamine in the United States.
In this episode we take a look at that indictment.
(commercial at 8:10)
to contact me:
bobbycapucci
source:
IND.pdf (justice.gov)
show less
This investigation, dubbed "Operation Fortune Runner," revealed that over $50 million in drug proceeds were laundered through an underground banking system linked to Chinese nationals. The money laundering network, based in the San Gabriel Valley of California, processed and concealed large amounts of drug trafficking proceeds, making them accessible to cartel members in Mexico and elsewhere. Methods used included trade-based money laundering, asset structuring, and the purchase of cryptocurrency.
The collaboration between U.S., Chinese, and Mexican law enforcement led to the arrest of several fugitives involved in this scheme. This case underscores the growing partnership between Mexican drug cartels and Chinese organized crime groups to launder drug money, which funds the production and distribution of dangerous drugs like fentanyl and methamphetamine in the United States.
In this episode we take a look at that indictment.
(commercial at 8:10)
to contact me:
bobbycapucci
source:
IND.pdf (justice.gov)
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| Author | Bobby Capucci |
| Organization | Bobby Capucci |
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