32 in U.S., Mexico Accused of Running Sinaloa Cartel Gold-for-Cash Money-Laundering Scheme

Fox News Latino, 2/13/2015

goldThirty-two people from the United States and Mexico are accused of running a multistate gold-for-cash scheme that laundered more than $100 million in U.S. profits for Mexico’s powerful Sinaloa drug cartel, a complaint unsealed this week in federal court in Chicago says.

The cartel associates used cash from narcotics sales to purchase scrap and fine gold — including from Chicago-area jewelers — then sent it to metal refineries in Florida and California; plants sometimes transferred payments for the gold directly to Mexico, the complaint says.

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