Kenneth Rijock

Kenneth Rijock

Tuesday, October 25, 2011

GERMAN NATIONAL ENGAGED IN BULK CASH SMUGGLING ARRESTED IN MEXICO CITY

If you were looking for additional proof that Mexico's laws severely limiting the deposit of US Dollars into Mexican financial institutions and NBFIs are working, look no further. Mexican authorities have taken into custody a German national, and charged him with money laundering. The individual reportedly was engaged in bulk cash smuggling of Dollars and Euros, through Mexico and Panama, and finally into Colombia; he was reportedly working for a major narcotics trafficking cartel. Since the organisation could no longer bank its US Dollar profits within Mexico, it was forced to repatriate it through bulk cash smuggling.

Please note that Euros were also being smuggled, meaning that the individual arrested was probably also repatriating drug profits earned in the Eurozone. 

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