us-charges-6-with-laundering-mexican-drug-cartel-cash-using-crypto-and-casinos

US Charges 6 With Laundering Mexican Drug Cartel Cash Using Crypto and Casinos

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The U.S. Department of Justice (DoJ) has charged six folks over alleged involvement in laundering drug cartel funds utilizing cryptocurrency.

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  • On Thursday, the DoJ unsealed an indictment (filed on Sept. 24) on the U.S. Jap District Court docket of Virginia towards Xizhi Li, 45, Jianxing Chen, 40, Jiayu Chen, 46, Eric Yong Woo, 43, Jingyuan Li, 47, and Tao Liu, 45.
  • The DoJ alleges the six folks had been piece of a company that laundered “tens of millions” for the Mexican drug cartels utilizing casinos and entrance corporations.
  • They are also presupposed to indulge in old foreign and domestic bank accounts as smartly as bulk cash smuggling to launder the funds.
  • Phone purposes a lot like WeChat and WhatsApp are talked about to had been old by the neighborhood to talk their illicit exercise.
  • Belief to be one of many six, Tao Liu, is presupposed to indulge in tried to make exercise of wire transfers and cryptocurrency to bribe a U.S. Department of Stutter optimistic to earn passports for entry into the U.S.
  • The six face up to 14 fees alongside with conspiracy to commit cash laundering, conspiracy to distribute cocaine, tried identity fraud, and bribery.
  • Superseding a previous indictment, essentially the most recent fees end result from an investigation spanning virtually four years.
  • Law enforcement looked into the relationship between foreign drug trafficking organizations and Asian cash laundering networks in the U.S., China, and somewhere else, in step with a DoJ press birth.
  • Each of the six now faces on the least 10 years imprisonment with a maximum sentence of life in the relieve of bars.

Read the court doc in elephantine below:

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