The United States has filed charges against several money launderers in California, who are accused of funneling funds to the Sinaloa Cartel through financial intermediaries, large cash transfers, purchasing cryptocurrencies, and cooperating with “illegal Chinese currency exchanges.”
The U.S. Department of Justice (DOJ) alleges that this laundering scheme involved the sale of over $500,000 worth of cocaine, methamphetamine, and fentanyl. As part of the investigation, known as “Operation Money Runner,” charges have been brought against 24 individuals.
Edgar Joel Martinez Reyes is accused of facilitating the Sinaloa Cartel’s transactions with “brokers” who assisted in the operations.
Read more:
India fines cryptocurrency exchange Binance $22,500
Money laundering methods involved the use of cryptocurrencies, precious metals, gemstones, and various bank accounts created by co-conspirators. A significant portion of the funds were transferred to Chinese brokers conducting illegal t