• Glenn Wilson
    91
    image.jpg

    By Anastasia Austin.

    US federal prosecutors say a real-estate investment firm accepted millions in drug money, revealing how high-end real-estate ventures are being used to launder dirty cash at scale.

    The case was settled on January 12, when Sefira Capital LLC — a Florida-based investment firm — agreed to forfeit around $30 million to resolve a charge that Sefira and 31 of its subsidiaries accepted millions in drug profits laundered through a scheme known to law enforcement officials as the Black Market Peso Exchange, according to a Department of Justice (DOJ) news release. It was one of three investment companies to forfeit around $50 million in similar cases.

    According to the federal complaint against Sefira, the Drug Enforcement Administration (DEA) used undercover accounts and directed informants to transfer drug proceeds through money-laundering brokers. The transfers resulted in millions of dollars being moved to Sefira accounts, prosecutors said. Sefira accepted this money from DEA’s unnamed accounts without any attempt to inquire into the source of their ownership — a direct violation of financial risk regulations. ...

    Continue reading at InSight Crime: Black Market Peso Exchange Evolving in United States. More #InSightCrime.

    More in the category Security and Crime.

    Register or sign up for our daily email digest.
bold
italic
underline
strike
code
quote
ulist
image
url
mention
reveal
youtube
tweet
Add a Comment

Welcome to San Miguel Frequently Asked Questions!

Expat and immigrant English language resources and community for San Miguel de Allende, Guanajuato, Mexico. Visitors to this site may browse.

Register to receive the optional daily email digest.

Registration is also required to post or vote in polls. When you register, we will send you an email with a link. Open that email and click that link to complete the process and confirm your email.