(RepublicanDaily.org) – Anyone in the corporate world will be familiar with the surge in the importance of anti-money laundering (AML) practices over the past decade or so. Despite the added protections, laundering money is still a big business, and criminals manage it in various different ways.
On Tuesday, April 28, a federal judge in an Illinois courtroom, handed down a 14-year custodial sentence to a Chinese national on money laundering charges. Xianbing Gan (51) was apprehended by undercover police in 2018 while arranging for the drop-off of more than $500,000 for a Mexican drug gang. An undercover agent pretended to be a money courier, and arrested Gan in a Los Angeles airport.
This is not the first time the authorities have heard of foreign nationals laundering money for large drug organizations. Last year, the DOJ announced that another Chinese national was found guilty of the crime as well.
Chinese National Guilty of Laundering Millions for Mexican Drug Cartels https://t.co/bmvaw6s9px
— Justice Department (@TheJusticeDept) June 29, 2020
According to US prosecutors, Xianbing Gan is one of a number of Chinese brokers conducting such operations from bases in Mexico. Fortunately, it seems the DOJ is on top of it and taking these crimes seriously.
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