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‘Robin Hood’ Mexican president says to return stolen wealth to the people

Mexican President Andres Manuel Lopez Obrador said on Monday he will create a “Robin Hood” institute to return to the people the ill-gotten wealth seized from corrupt politicians and gangsters. His administration is drawing up a bill to create an independent “Robin Hood” institute “against the corrupt” that would put… Read More

Tijuana Currency Exchanger Pleads Guilty to Laundering $13 Million

A Tijuana man pleaded guilty to using his currency exchange houses to launder $13 million in drug trafficking proceeds for the Sinaloa cartel, the US Justice Department said. From April 2013 through November 2015, Cesar Hernandez-Martinez managed and supervised an “extensive” international money laundering operation that knowingly accepted and transferred… Read More

El Chapo seeks new trial, citing jury misconduct

AP — Defense attorneys asked a federal judge Tuesday to grant a new trial to the Mexican drug lord known as El Chapo, saying jurors improperly followed media coverage of the sensational drug conspiracy case. Joaquin Guzman’s defense team said in court filings that jurors repeatedly disregarded instructions to avoid… Read More

25th March 2019

New rules in Mexico may limit cash payments for real estate

Mexico is developing rules that would cap the amount of cash that can used to buy real estate, Finance Minister Carlos Urzua said on Friday, part of a push to reduce the use of physical currency in a country rife with money laundering and corruption. Urzua, speaking at a banking… Read More

3rd March 2019

Mexico freezes university funds, talks of money laundering

AP—The financial intelligence unit of Mexico’s treasury has frozen $156 million of the state Autonomous University of Hidalgo’s funds while it investigates suspected money laundering, Treasury Secretary Santiago Nieto said Friday. The university received the money through Switzerland from accounts in 22 countries, according to the agency. Mexico’s financial… Read More

14th February 2019

‘World famous’ kingpin El Chapo found guilty over drugs, money laundering conspiracy

Drug kingpin Joaquin ‘El Chapo’ Guzman Loera, who is estimated to have generated billions in illicit proceeds, has been found guilty of all 10 counts against him, including participating in a money laundering conspiracy and narcotics trafficking. Also known as ‘El Rapido,’ Guzman was convicted on Tuesday by a federal… Read More

29th January 2019

‘El Chapo’ says he will not testify in his own defence

Accused Mexican drug lord Joaquin “El Chapo” Guzman said in court on Monday that he will not testify in his own defence at his U.S. trial. Guzman announced his decision after prosecutors rested their case against him in federal court in Brooklyn. After excusing the jury, U.S. District Judge… Read More

17th January 2019

‘El Chapo’paid ex-Mexican president $100 million bribe: trial witness

Accused Mexican drug lord Joaquin “El Chapo” Guzman once paid a $100 million bribe to former Mexican President Enrique Pena Nieto, an ex-Guzman associate testified on Tuesday that he previously told U.S. authorities. Alex Cifuentes, who has described himself as Guzman’s onetime right-hand man, discussed the alleged bribe under cross-examination… Read More

28th December 2018

White House mulls new year executive order to bar Huawei, ZTE purchases

President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China’s Huawei and ZTE, three sources familiar with the situation told Reuters. It would be the latest step by the Trump administration… Read More

19th December 2018

El Chapo trial becomes New York’s latest tourist attraction

AP — There was a time, after a spectacular prison escape, when Joaquin Guzman was the most wanted man in the world. The thrill of being able to see the man known as El Chapo up close — and live to tell the tale — has… Read More

28th November 2018

Trial witness describes El Chapo’s lavish lifestyle

AP — Mexican drug lord Joaquin “El Chapo” Guzman was so rich, he had a private zoo where big cats roamed. So rich, he bought a $10 million beach house. And so rich, he traveled to Switzerland for an anti-aging treatment. Guzman’s excesses were detailed at… Read More

27th November 2018

‘El Chapo’ oversaw drug shipments, bribes as head of cartel, trial witness says

Joaquin “El Chapo” Guzman was “the boss” of Mexico’s Sinaloa Cartel, a witness told jurors in the accused Mexican drug lord’s trial in Brooklyn federal court on Monday, contradicting the claim by Guzman’s lawyers that his dominance of the drug trade was a myth. Miguel Angel Martinez, who described himself… Read More

31st October 2018

Deutsche to scrap Mexican sale previously stalled by money laundering allegations

A deal between Deutsche Bank and Mexican bank Accendo Banco that had stalled over money laundering allegations will not proceed although the accusations have been dropped. According to Reuters, Deutsche is planning to scrap an agreement to sell its Mexican assets to Accendo, but has not give an explanation, saying… Read More

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