The U.S. Department of Justice unsealed a civil case filed in 2024 on Friday that details the seizure of more than $14.9 million seized from an international drug money laundering scheme and alleges a complex pattern of trade-based drug-money laundering.
Trade-based money laundering is defined as money laundering that involves depositing U.S. cash drug proceeds into American bank accounts that is transferred elsewhere through the delivery of products or services that can be sold in local currencies. This is done using real or shell companies.
The seized funds came from tracking drug money deposits into the bank accounts of companies with connections to international commerce, according to the lawsuit, and include multiple import-export businesses and a successful Latin American musician whose accountant said the cash deposits were related to concerts in Colombia.
“The cartel and its criminal networks are fueled by profit. Seizing their drug proceeds strikes at the core of their poisonous operations,” Joseph Dixon, special agent in charge, said. “The )Drug Enforcement Administration) and our partners will be relentless in pursuing these bad actors and will hold them accountable for the violence, destruction, and misery they cause. No distance will shield them,”
The case is still under investigation.