Mexican Drug Cartel Laundered Money Through BofA, FBI Alleges
Drug money has a way of sprawling. And some of it may have reached Bank of America.
A federal probe into Los Zetas, a Mexican drug cartel, claims that the group has been laundering money through accounts at BofA, according to a recent report in The Wall Street Journal.
An FBI affidavit filed in Texas last month says that the Mexican drug cartel has been reportedly funneling cash through a Texas-based racehorse business with BofA accounts. The U.S. government has described Los Zetas in the past as “the most technologically advanced, sophisticated and dangerous cartel operating in Mexico.” Tremor Enterprises LLC, the horse business, was for its part allegedly run by Jose Trevino Morales, a U.S. citizen with two brothers in Los Zetas.
In the past, Mexican drug syndicates have allegedly used BofA accounts to buy planes to transport cocaine, according to Bloomberg. Between 2004 and 2007, the bank was also the alleged destination for almost $10 million in illicit funds from an influential political family in Equatorial Guinea.