![Chinese 'underground bankers' launder Sinaloa drug money: US](https://www.portugalcolonial.pt/media/shared/articles/df/e0/e0/Chinese--underground-bankers--laund-811618.jpg)
-
Jamaica's De Cordova-Reid joins Leicester from Fulham
-
Wolves' Kilman reunites with Lopetegui at West Ham
-
Schmidt reign off to winning start as Australia beat Wales 25-16
-
Russian wrestlers reject Olympics invitation
-
Raducanu rediscovers Wimbledon 'fun' factor after turbulent spell
-
Winning all that matters at Euro 2024 for Mbappe's minimalist France
-
Eight dead, two million affected by Bangladesh floods
-
Robertson pleased to 'find a way' past England in tough Test baptism
-
Martin sets lap record to secure German MotoGP pole
-
'Shattered' Germany set sights on World Cup after Euros exit
-
Olympic hope Pedersen pulls out of Tour de France
-
Djokovic eyes sweet 16 at Wimbledon as Swiatek takes on 'gangster'
-
End beckons again for Ronaldo after Portugal Euros KO
-
New Zealand edge England 16-15 in tense, brutal first Test
-
Turkey take on Dutch in politically charged Euros quarter-final, England face Swiss
-
Calling for better ties with West, Iran reformist wins presidency
-
Cybercrime groups restructuring after major takedowns: experts
-
Activists hail Sierra Leone child marriage ban, urge action on FGM
-
Marsch relishing Canada's semi clash with Argentina
-
Canada stun Venezuela on penalties to reach Copa semis
-
Iran reformist Pezeshkian holds early lead in runoff vote
-
Swiatek faces 'gangster' threat, Djokovic feels need for Wimbledon speed
-
France holds its breath ahead of uncertain vote
-
Starmer begins UK 'rebuild' after landslide election win
-
Paris's Moulin Rouge inaugurates new windmill sails ahead of Olympics
-
Pan, Rai share halfway lead in PGA John Deere Classic
-
'I was feeling terrible' in debate, Biden says in TV interview
-
France coach Deschamps savours ending penalty hoodoo, defends Mbappe
-
Thompson bids farewell to Warriors after exit
-
Portugal exit Euros with pride, will return stronger: Martinez
-
UK's new PM Starmer speaks to world leaders, names top team
-
Spain and France to face off in Euros last four, Turkey lament 'unfair' Demiral ban
-
Israel says negotiators to hold fresh Gaza truce talks next week
-
France beat Portugal on penalties to reach Euro 2024 semi-finals
-
Endrick to start for Brazil in Uruguay Copa clash: Dorival
-
Heartbreak for Germany fans after dramatic Euros exit
-
Beryl heads for Texas after causing damage, no deaths in Mexico
-
Nagelsmann laments late penalty decision as hosts Germany exit Euros
-
Biden declares he's all in ahead of high-risk TV interview
-
Spain team 'is a winning horse', says De la Fuente
-
Bows at the ready, Chad villagers battle kidnappings
-
Alcaraz mimics Bellingham goal celebration after Wimbledon win
-
Olmo hopes Pedri can make speedy return for Euros semi-finalists Spain
-
Retiring Kroos hopeful despite Germany's 'bitter' Euros exit
-
Southgate turns on English 'entitlement' over claims of easy Euros draw
-
Merino extra-time goal sends Spain past Germany to Euro semis
-
Koeman demands Dutch silence fervent Turkish fans at Euros
-
Brad Pitt at Silverstone for filming of F1 movie
-
Raducanu storms into Wimbledon last 16
-
California fires spread in July 4 weekend heatwave
![Chinese 'underground bankers' launder Sinaloa drug money: US](https://www.portugalcolonial.pt/media/shared/articles/df/e0/e0/Chinese--underground-bankers--laund-811618.jpg)
Chinese 'underground bankers' launder Sinaloa drug money: US
The US Justice Department on Tuesday accused Chinese "underground bankers" of helping Mexico's Sinaloa Cartel launder more than $50 million in drug trafficking proceeds.
An indictment unsealed in California charged 24 defendants with conspiracy to distribute cocaine and methamphetamine and money laundering offenses.
Drug Enforcement Administration (DEA) chief Anne Milgram said a multi-year investigation dubbed "Operation Fortune Runner" had "uncovered a partnership between Sinaloa Cartel associates and a Chinese criminal syndicate operating in Los Angeles and China to launder drug money."
The Justice Department said the Chinese "underground bankers" had helped the cartel transfer drug profits from the United States to Mexico.
Chinese nationals are barred by that country's laws from moving more than $50,000 a year out of China, it said, and some individuals seeking to move more than that seek "informal alternatives" to move funds.
"Drug traffickers increasingly have partnered with Chinese underground money exchanges to take advantage of the large demand for US dollars from Chinese nationals," it said.
And Beijing's Ministry of Public Security said Wednesday it had worked on a US tip-off to arrest a suspect surnamed Tong involved in "drug-related money laundering".
The suspect and others had operated a car dealership in the United States that offered a currency exchange service for buyers, Beijing said.
"Later, they switched business and engaged in illegal foreign exchange trading and other criminal activities," it said in a post on social media platform Weibo.
"This case is a recent successful case of Sino-US anti-drug cooperation," it added.
Documents released by the US also name a fugitive suspect called Peiji Tong as having been involved in a scheme to "launder drug trafficking proceeds in the United States".
The Justice Department said 20 of the 24 defendants named in the indictment are to appear in court in Los Angeles in the coming weeks.
Homeland Security Advisor Liz Sherwood Randall said China and Mexico had each arrested one individual in connection with the case.
Randall said China's actions "build on the commitment made between President (Joe) Biden and President Xi (Jinping) at the Woodside Summit in November 2023 to resume bilateral cooperation to combat global illicit drug manufacturing and trafficking."
The Justice Department said $5 million in narcotics proceeds had been seized during the investigation, along with 302 pounds (137 kilograms) of cocaine, 92 pounds of methamphetamine and 3,000 Ecstasy pills.
T.Vitorino--PC