Federal authorities revealed that members of the Sinaloa Cartel used a network of Chinese underground bankers to launder more than $50 million in drug proceeds.charging 24 men allegedly tied to the international conspiracy involving individuals in California, Mexico, and others with ties to China.
Authorities began charging some individuals in 2023, and soon after, some fled to Mexico. According to the USDOJ, they worked with Mexican and Chinese authorities to arrest several individuals who had fled from Los Angeles. According to the USDOJ, the Chinese underground money laundering network works by individuals depositing Chinese currency into bank accounts. Once the money was deposited, the individual received the cash in U.S. dollars. The Sinaloa Cartel would then use the funds moved to China to pay for various goods and services from Chinese partners who supplied the cartel with precursors or equipment.
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