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L.A. is 'epicenter' of cartel money laundering, U.S. official says
L.A. is 'epicenter' of cartel money laundering, U.S. official says

Federal agents launched a series of raids in the downtown Los Angeles fashion district on Wednesday and seized an estimated $65 million in cash and other assets they allege were part of a widespread attempt by Mexican drug cartels to launder narcotics profits. Nine people were arrested in raids targeting 70 locations, many of them businesses in the fashion district. Federal officials said they believe the drug organizations have used numerous businesses in the garment district to convert their vast earnings into pesos, turning Los Angeles into a hub for “trade-based money laundering.” “Los Angeles has become the epicenter of narco-dollar money laundering with couriers...

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