Monday, July 15, 2024

Sanctions Imposed on Suspected Money Launderers Linked to Drug Cartels in the US

U.S. Treasury Department Imposes Sanctions on Money Launderers for Sinaloa Cartel

The U.S. Treasury Department has taken a significant step in combating drug trafficking by imposing sanctions on three individuals from Mexico and China accused of laundering money for the Sinaloa drug cartel. Diego Acosta Ovalle, a key figure in the cartel’s financial operations, was accused of concealing and managing drug trafficking proceeds. Tong Peiji and He Jiaxuan, based in China, were also sanctioned for their roles in laundering drug proceeds for the cartel.

According to the Treasury statement, Tong and He facilitated the transfer of drug proceeds into U.S. currency, with He handling bulk cash deliveries on behalf of criminal groups as instructed by Tong. Tong even traveled to Mexico to negotiate agreements with Sinaloa cartel members for laundering drug proceeds.

U.S. Deputy Treasury Secretary Wally Adeyemo emphasized the importance of disrupting money launderers who facilitate drug trafficking into the United States, particularly of illicit drugs like fentanyl. The sanctions are part of a collaborative effort between the U.S. and Mexico to disrupt drug trafficking and the flow of narcotics.

This action highlights the ongoing efforts to combat drug trafficking and the commitment to protecting American lives from the harmful effects of illicit drugs.

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