A new report claims a $92 million money laundering scheme “completely” passed through three major U.S. banks.
A group of suspected drug traffickers and money launderers are accused of depositing hundreds of thousands of dollars in illicit funds into accounts at JPMorgan Chase, Bank of America and Wells Fargo. Reports CNN reported, citing court documents.
In its indictment, the Department of Justice accused 37-year-old En-Hoa Phan of leading a drug money laundering ring totaling $92 million, which included depositing $17 million in cash in banks across the United States.
“[Prosecutors say] Fang’s couriers made more than 100 cash deposits totaling $17 million in banks from California to Virginia.
“According to court documents, the alleged conspirators deposited hundreds of thousands of dollars into accounts at JPMorgan Chase, Bank of America and Wells Fargo.”
Fang was arrested in Oregon in April.
The Justice Department said she was the main liaison for a Mexican drug trafficking ring and deposited illegal funds in bank accounts in 20 states, including California, Florida, Illinois, Indiana, Missouri, North Carolina, Tennessee, Texas, Virginia and Wisconsin. Reports Oregonian.
Wells Fargo and Bank of America have declined to comment on the allegations, and JPMorgan Chase did not respond to a request for a statement.
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