Posted: Monday, June 2, 2025. 1:27 pm CST.
By Zoila Palma: A Mexico-based lawyer, Hector Alejandro Paez Garcia, has pleaded guilty to laundering more than $50 million for the powerful Sinaloa cartel, U.S. authorities announced.
According to the Department of Justice, Paez played a key role in a Mexico-based money laundering organization that moved drug proceeds from the United States to Mexico over several years. His case is part of a long-running FBI investigation into the cartel’s financial operations.
Court records reveal that the network used shell companies in San Diego to disguise bulk cash deposits originating from drug trafficking activities across the U.S, The Latin Times report.
The funds were then funneled into accounts controlled by Paez, who claimed a managerial position within the organization. As law enforcement began targeting traditional methods, Paez turned to cryptocurrency to evade detection, though investigators were still able to track and seize the illicit assets.
In total, authorities have seized 66 bank accounts and over $3 million connected to the scheme.
Eleven individuals have been arrested, and the Treasury Department has sanctioned six people and seven companies linked to the operation. Paez is scheduled to be sentenced on August 15.
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The post International News: Mexican Lawyer pleads guilty to laundering millions for Sinaloa Cartel appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Monday, June 2, 2025. 1:27 pm CST. By Zoila Palma: A Mexico-based lawyer, Hector Alejandro Paez Garcia, has pleaded guilty to laundering more than $50
The post International News: Mexican Lawyer pleads guilty to laundering millions for Sinaloa Cartel appeared first on Belize News and Opinion on www.breakingbelizenews.com.