U.S. Government Wins 4 Convictions in International Laundering Scheme

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Wednesday, January 23, 1991
Author: 
Bruce Zagaris
Volume: 
7
Issue: 
1
1
Abstract: 
On December 27, 1990, four persons were convicted of participating in a $1 billion operation that laundered Colombian drug money through the jewelry markets of New York, Los Angeles, and Houston. The web of transactions involved a triangular trade of drugs, gold, and cash by Colombian drug traders. Federal officials termed the operation, which was dubbed "La Mina" or "the mine" the largest money-laundering operation ever prosecuted in the U.S.