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U.S. fronted companies used for money laundering aka El Chapo

21 Aug
English: Joaquín Guzmán Loera drug lord and li...

English: Joaquín Guzmán Loera drug lord and lider of the Sinaloa drug cartel in Mexico.

Announced that Jennifer Shasky Calvery the new director of the Financial Crimes Enforcement Network in United States

WASHINGTON; The U.S. Treasury Department today announced that Jennifer Shasky Calvery, experienced in fighting Mexican drug cartels, as the new director of the Financial Crimes Enforcement Network (FinCEN).

During a recent congressional hearing, the official said the Sinaloa Cartel of Joaquin Guzman Loera, aka El Chapo, uses U.S. front companies to launder their illegal profits.

Shasky Calvery said that this is one of the methods used by transnational criminal organizations to penetrate the U.S. financial system.

“U.S. law enforcement agencies believe that the Sinaloa cartel, one of the largest drug trafficking organizations in Mexico, and the USA use U.S. front companies to launder drug proceeds,” he said to the Judicial Committee of the House.

The charges of the new director of FinCEN, who takes office next month, appears to have served as a prosecutor for the Organized Crime Section of the Justice Department’s gang.

“His record of leadership and strong relationships with the Treasury, regulatory and law enforcement agencies will be a strong asset,” said Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen.

Shasky Calvery served as head of the Asset Forfeiture Section and Money Laundering (AFMLS), Department of Justice, where she led efforts against international organized crime, including the Mexican cartels, among others.

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Posted by on 08/21/2012 in Crime!, Mexican Drug Cartels

 

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