The US has accused a Chinese “underground banking” network of assisting Mexico’s powerful Sinaloa drugs cartel with money laundering and drug distribution.
The Department of Justice (DoJ) has charged 24 individuals with various offenses, seizing $5m in proceeds along with drugs and weapons.
The close collaboration between US, Mexican, and Chinese law enforcement agencies was highlighted in cracking down on this criminal network.
The underground exchanges were used by Sinaloa operatives to move illegal cash from the US to Mexico due to restrictions on currency movements in China.
The US accuses the Sinaloa cartel of contributing to the opioid crisis by distributing fentanyl, a powerful synthetic opioid.
Chinese money exchanges facilitated the transfer of over $50m in drug proceeds between Sinaloa gang members and the United States.
Most of the suspects will appear in court in Los Angeles in the coming weeks, as part of the ongoing investigation.
The accusations shed light on the global reach of drug cartels and the importance of international cooperation in combating organized crime.