Cartels, Cash and Cover-Ups: How Drug Money Moves Through US Banks

Cartels, cash and cover-ups: How drug money moves through US banks

Federal authorities discovered tens of thousands of dollars in Southern California they believe is tied to a Mexican cartel. Undercover officers there watched Jiayoung Yu walk into a Chase bank and hand over $100,000 in cash, prompting them to notify federal agents about the large deposit. Yu, a Chinese national, was already on to another bank before authorities could step in. Federal prosecutors say the network Yu belongs to allegedly splits up…

How Chinese Operatives Are Laundering Mexican Drug Money In Broad Daylight

by Floyd Buford at CDN - Mexican drug cartels are partnering with Chinese money laundering networks to funnel hundreds of millions of dollars in drug proceeds to Chinese nationals in the United States, according to a new report from the Wall Street Journal. The Sinaloa Cartel — formerly headed by Joaquin “El Chapo” Guzmán — is allegedly working with Chinese groups … Click to read the rest HERE-> How Chinese Operatives Are Laundering Mexican Drug…

China, Cartels, And Cash: How Chinese Operatives Are Laundering Mexican Drug Money In Broad Daylight

'collecting bags of cash from multiple houses'

A Chinese Network Is Making Millions Laundering Money For The Sinaloa Cartel In The U.S.: Report

A new report sheds light on an investigation about a Chinese network working to launder money from the Sinaloa cartel through U.S. banks.

The money laundering would bring hundreds of thousands of dollars to Chinese networks

The Wall Street Journal reported on Thursday (May 15) that U.S. federal prosecutors accused Jiayong Yu of working for an underground money laundering group that was jointly run by Chinese and Mexican drug lords. The Chinese money laundering organization he belonged to laundered approximately $50 million in four years.