Mexico blocks several bank accounts linked to the Sinaloa Cartel and Caro Quintero

In the last 12 months, the UIF has blocked bank accounts worth over MXN $1000 million

Mexico blocks several bank accounts linked to the Sinaloa Cartel and Caro Quintero
The DEA and UIF collaborated in an investigation to freeze assets owned by the infamous Sinaloa Cartel - Photo: Brendan Smialowski/AFP
English 01/04/2020 13:15 Diana Lastiri Mexico City Actualizada 13:32
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Mexico’s Financial Intelligence Unit (UIF), led by Santiago Nieto, blocked several bank accounts linked to the Sinaloa Cartel and drug lord Rafael Caro Quintero

On March 30, the UIF ordered the measure because it detected unusual movements in the financial system. The operations were worth over MXN $1,500 million. In total, the bank accounts owned by 9 people and 5 companies linked to the Sinaloa Cartel, a criminal organization once led by Joaquín “El Chapo” Guzmán, were blocked.

Moreover, other accounts owned by four people linked to Rafael Caro Quintero were also blocked. Decades ago, Caro Quintero was one of the leaders of the now-extinct Guadalajara Cartel.

The measure was the result of an investigation between the DEA and the UIF. 

During the investigation, the UIF found a financial operator who works for the Sinaloa Cartel. He received money from a company established in Jaslico through his wife, who received 58 checks for MXN $12,776,000. These checks were later cashed. One of the shareholders of the Jalisco company is also the legal representative of at least 13 other companies. 

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Moreover, the UIF found that two financial operators from the Sinaloa Cartel purchased four properties located in Culiacán for MXN $17,352,000.

In collaboration with the DEA, the UIF found that one of these companies triangulates resources with another company located in Delaware, U.S. 

In the last 12 months, the UIF has frozen over MXN $1000 million from different drug cartels.

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In 2019 alone, the institution blocked 330 accounts linked to the Sinaloa Cartel.

The Sinaloa Cartel is one of the most dangerous and powerful cartels in Mexico. It was once led by Joaquín “El Chapo” Guzmán. It is believed “El Mayo” Zambada is now the main leader. 

Rafael Caro Quintero is an infamous drug trafficker. Along with others, he once led the now extinct Guadalajara Cartel. He gained notoriety after ordering the kidnap, torture, and murder of DEA agent “Kiki” Camarena.

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