OFAC Sanctions Sinaloa Cartel’s Crypto Money Laundering Network
- The U.S. Office of Foreign Assets Control (OFAC) sanctioned six individuals and two companies for laundering money for the Sinaloa cartel.
- Key figures include Armando de Jesus Ojeda Aviles, linked to the “Chapitos” faction of the cartel.
- Entities involved include Grupo Especial Mamba Negra and Gorditas Chiwas, both based in Mexico.
- The scheme involved converting drug sales proceeds into cryptocurrency for transfer to Mexico.
- All U.S.-based assets of these entities are blocked, including those owned at least half by them.
The sanctions aim to disrupt the financial operations of the Sinaloa cartel, a major player in fentanyl trafficking into the United States. These measures reflect ongoing efforts to combat drug-related money laundering using cryptocurrency channels.
By blocking assets and targeting key figures like Ojeda Aviles, OFAC seeks to dismantle networks that facilitate drug trafficking through innovative financial methods such as cryptocurrency conversion. (Source)
