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Financial Crime News Briefs

Snapshots of money laundering, insider trading, financial fraud, sanctions evasion, regulations, and AI technology developments for educational purposes only.

Day: June 24, 2024

Written by FinCrimeJune 24, 2024

Sinaloa drug cartel laundered millions through Chinese network in LA, prosecutors say

Reported by Matthew Ormseth With millions in cash piling up in the United States, the Sinaloa cartel needed to funnel proceeds from the sale of fentanyl, methamphetamine and cocaine back to Mexico. Federal prosecutors say a ring of Chinese nationals in the San Gabriel Valley offered a solution: marrying the Sinaloans’ glut of bulk cash […]

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