Chinese ‘Underground Bankers’ Launder Sinaloa Drug Money: U.S.

Drug Enforcement Administration (DEA) Administrator Anne Milgram told a House Appropriations Committee about how Chinese banks allegedly laundered millions of dollars for Mexican drug cartels on June 18, 2024. Lenin Nolly / NurPhoto / NurPhoto via AFP

The U.S. Justice Department on Tuesday accused Chinese “underground bankers” of helping Mexico’s Sinaloa Cartel launder more than $50 million in drug trafficking proceeds.

An indictment unsealed in California charged 24 defendants with conspiracy to distribute cocaine and methamphetamine and money laundering offenses.

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by Agence France-Presse

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