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06/19/2024
Federal Indictment Alleges Alliance Between Sinaloa Cartel and Money Launderers Linked to Chinese Underground Banking
Office of Public Affairs U.S. Department of Justice
China and Mexico Took Law Enforcement Actions Following Justice Department’s Investigation of Alleged Scheme to Violate U.S. Drug and Money-Laundering Laws
The Justice Department today announced a 10-count superseding indictment charging Los Angeles-based associates of Mexico’s Sinaloa drug cartel with conspiring with money-laundering groups linked to Chinese underground banking to launder drug trafficking proceeds. During the conspiracy, more than $50 million in drug proceeds flowed between the Sinaloa Cartel associates and Chinese underground money exchanges.
Following close coordination with the Justice Department, Chinese and Mexican law enforcement informed United States authorities that those countries recently arrested fugitives named in the superseding indictment who fled the United States after they were initially charged last year.
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