A federal indictment has alleged an alliance between one of Mexico’s biggest drug cartels and Chinese underground bankers—who are accused of jointly conspiring to cover up more than $50 million in drug profits.
A Tuesday press release from the U.S. Justice Department’s Office of Public Affairs detailed the 10-count indictment, which charged 24 Los Angeles-based Sinaloa drug cartel associates with working alongside groups that have been linked to Chinese underground banking systems.
The name given to the federal government’s multi-year investigation was “Operation Fortunate Runner.” It ended with a superseding indictment of the group back in April, though it was only unsealed on Monday—revealing that the 24 individuals were each charged with one count of conspiring to perpetuate the distribution of cocaine and methamphetamine, one count of money laundering conspiracy, and one count of conspiring to operate an unlicensed monetary transmitting company.
“The superseding indictment alleges that a Sinaloa Cartel-linked money laundering network collected and, with help from a San Gabriel Valley, California-based money transmitting group with links to Chinese underground banking, processed large amounts of drug proceeds in U.S. currency in the Los Angeles area,” explains the DOJ press release.
