Los Zetas Cartel Used Bank of America Accounts to Launder Money
A Mexican drug-trafficking network used accounts at Bank of America to hide money and invest proceeds into U.S. quarter horses that have raced at Ruidoso Downs according to the Federal Bureau of Investigation.
The Los Zetas allegedly had a horse buying and trading business which used accounts from Bank of America to launder money.
Members of the Los Zetas, Jose Trevino and Miguel Morales, were indicted last month for their alleged roles in a conspiracy to launder Zetas money through the purchase of American Quarter Horses.
A Bank of America spokesman told the Wall Street Journal, “We have robust anti-money laundering processes and procedures that comply with regulatory and legal requirements. When we become aware of suspicious activity conducted through customer accounts, we take immediate action and report it to the appropriate authorities.”
The affidavit has a dozen transactions since late 2009 in which $1.5 million was deposited or withdrawn from two accounts at the Charlotte, NC based bank. Bank of America is not accused of any wrong doing in the case and is cooperating in the case.