A new report details how the Sinaloa Cartel is using a complex process to launder drug money from the United States to Mexico by melting down gold bars.
According to court documents obtained by Bloomberg
, cartel associates in Chicago would use drug proceeds to purchase gold bars and jewelry around the area. They then used FedEx to ship the items to a company in Florida that would melt the gold and sell it for cash.
, cartel associates in Chicago would use drug proceeds to purchase gold bars and jewelry around the area. They then used FedEx to ship the items to a company in Florida that would melt the gold and sell it for cash.
The company – which kept one percent of the profit – then sent the proceeds to Mexico, where cartel operatives would use falsified paperwork to make it appear as if Mexican businesses had sold the gold to their partners in Florida legally.A new report details how the Sinaloa Cartel is using a complex process to launder drug money from the United States to Mexico by melting down gold bars.
According to court documents obtained by Bloomberg, cartel associates in Chicago would use drug proceeds to purchase gold bars and jewelry around the area. They then used FedEx to ship the items to a company in Florida that would melt the gold and sell it for cash.
, cartel associates in Chicago would use drug proceeds to purchase gold bars and jewelry around the area. They then used FedEx to ship the items to a company in Florida that would melt the gold and sell it for cash.
The company – which kept one percent of the profit – then sent the proceeds to Mexico, where cartel operatives would use falsified paperwork to make it appear as if Mexican businesses had sold the gold to their partners in Florida legally.
Source: http://latino.foxnews.com/latino/news/2016/05/10/mexico-sinaloa-cartel-melted-gold-to-launder-drug-proceeds-in-us/?intcmp=hplnws
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