14 Feb 2019
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 jury in New York of being a principal operator of a continuing criminal enterprise – the infamous Mexican gang known as the Sinaloa Cartel.
He pleaded ‘not guilty’ to the allegations.
In a brief telephone interview with KYC360, Guzman’s lawyer Jeffrey Lichtman said: “We are very disappointed with the verdict. This was an incredibly hard fraught trial, [held] under difficult circumstances. The jury took six days to deliberate.”
Regarding how El Chapo felt about the verdict, Lichtman said: “He was very strong and positive, he plans to appeal.”
The Mexican crime boss was alleged to have trafficked tons of cocaine and other drugs into the US, and committed a host of other offences, which allegedly helped his business generate billions.
“Guzman Loera’s lucrative drug trafficking business generated billions of dollars in illicit proceeds. Guzman Loera used various methods to launder money including bulk cash smuggling from the United States to Mexico,” the US Department of Justice said on Tuesday.
“One of the largest seizures was of $1.26 million seized from hidden compartments in a truck driven by Guzman Loera’s brother in Douglas, Arizona in 1989. In addition to the bulk cash smuggling, Guzman Loera oversaw numerous shell companies, including a juice company and a fish flour company to launder the cartel’s narcotics trafficking proceeds.”
– Irene Madongo
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