Reported 10 months ago
On June 18, 2024, the US Department of Justice announced the dismantling of a money laundering scheme between the Mexican drug cartel 'Sinaloa' and Chinese underground banks. The scheme involved at least $50 million in drug proceeds and collaborations for trafficking fentanyl, cocaine, and other drugs. The investigation revealed a new criminal partnership between the Sinaloa Cartel and Chinese individuals, with 24 people charged, 22 arrested, and a main suspect identified in Los Angeles. The operation highlighted how wealthy Chinese individuals circumvent currency restrictions to launder drug money in collaboration with Mexican traffickers, ultimately impacting the drug trade in the US.
Source: YAHOO