Treasury targets two Mexican companies connected to drug cartel

4/20/2017 The Hill

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Flickr/Roman Boed

The Treasury Department targeted on Thursday two Mexican companies that property management authorities say are connected to a drug cartel.

Treasury’s Office of Foreign Assets Control (OFAC) designated Yorv Inmobiliaria and Grupo Segtac, S.A. de C.V., property companies based out of central Mexico. Each company manages a Mexican shopping center that serves as a front for Los Cunis Drug Trafficking Organization.

The companies were designated as narcotics traffickers by OFAC, cutting them off from United States financial system and banning U.S. persons and companies from financial transactions with them.

OFAC designated the Los Cuinis DTO and its leader, Abigail Gonzalez Valencia, on April 8, 2015.

“OFAC will continue to target new front companies that have been created, or coopted, for the purpose of concealing the interests of Gonzalez Valencia, the Los Cuinis DTO, and their allies in order to evade sanctions,” said OFAC director John E. Smith. “In coordination with law enforcement and the Mexican government, OFAC will work tirelessly to expose and disrupt these organizations’ operations and assets.”

The Treasury Department action comes as the Trump administration focuses on hindering Latin American drug cartels and gangs, specifically MS-13.

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