Sunday, October 18, 2009

Agents make record cash seizure

I wonder what happens to the money that gets confiscated by government seizures?


Agents make record cash seizure
Customs agents from the US, Mexico and Colombia have confiscated about $41m (£26m) in cash.

The money, thought to belong to drug gangs, was found hidden in shipping containers at the ports of Manzanillo in Mexico and Buenaventura in Colombia.

The two ports are regularly used by drug traffickers to channel cocaine to the US and cash from drug sales back to the gangs' headquarters in Colombia.

It is one of the biggest ever cash seizures of its kind, officials said.


A total of about $41m in cash was seized in five separate raids last month.

On 9 September, Colombian customs officials aided by local police found $11.2m in two shipping containers on a boat bound for Buenaventura.

The cash was hidden in bags filled with ammonium sulphate, a chemical used to make fertiliser.

A further $11.2m was seized on 10 September, also in Colombia, and $11m of cash hidden in containers containing sodium sulphate was found on 11 September in Manzanillo by US customs agents.

On 14 September, US agents confiscated $5m in Buenaventura, and on 18 September $2.15m was taken in Manzanillo.

"This seizure... has surely put a dent in the illegal activities of the individuals involved," said John Morton, Assistant Secretary for Immigration and Customs Enforcement (Ice) at the US Department of Homeland Security.

No arrests have yet been made as a result of the seizure, but the investigation is ongoing.

Officials are operating under a "strong suspicion" that the cash belonged to drug traffickers.

Story from BBC NEWS:

Published: 2009/09/28 19:30:11 GMT


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