U.S. Treasury · U.S. · Ethereum · Bitcoinist
US Treasury Cracks Down Drug Lord’s Crypto Money-Laundering Ring Linked To Sinaloa Cartel
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The US Treasury announced on Wednesday a fresh round of sanctions targeting the Sinaloa Cartel, citing growing evidence that elements of the organization are using crypto to support fentanyl trafficking and launder drug proceeds.
Key facts
- The agency further points to a legal development involving Alarcon Palomares: in April 2024, a federal grand jury in the US District Court for the District of Colorado returned an indictment
- A central figure in the Treasury’s announcement is Armando de Jesus Ojeda Aviles, known as Ojeda Aviles, who the US describes as the leader of a crypto laundering network tied to the cartel’s drug
- Treasury noted that the Sinaloa Cartel is among the oldest and most powerful drug trafficking groups in Mexico
- Treasury alleges that Ojeda Aviles coordinates the collection of large amounts of cash in the United States—cash that Treasury links to fentanyl and other illicit drug sales
Summary
Treasury noted that the Sinaloa Cartel is among the oldest and most powerful drug trafficking groups in Mexico. According to the agency, the cartel’s operations include illicit fentanyl sales, which generate proceeds that must then be moved, cleaned, and ultimately transmitted back into the cartel’s network. A central figure in the Treasury’s announcement is Armando de Jesus Ojeda Aviles, known as Ojeda Aviles, who the US describes as the leader of a crypto laundering network tied to the cartel’s drug trafficking operations. Treasury alleges that Ojeda Aviles coordinates the collection of large amounts of cash in the United States—cash that Treasury links to fentanyl and other illicit drug sales.