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OFAC Sanctions Sinaloa Cartel-Linked Cryptocurrency Laundering Network on May 21

GateNews
Enforcement Actions
According to the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), the agency sanctioned more than a dozen individuals and entities linked to Sinaloa Cartel money laundering networks on May 21, including one operation accused of converting fentanyl and drug proceeds into cryptocurrency. Armando de Jesus Ojeda Aviles was identified as the head of the laundering network, which collected bulk cash in the United States, converted it into cryptocurrency, and routed funds back to cartel leadership in Mexico. OFAC said Ojeda Aviles coordinated cash pickups and facilitated crypto conversions, while associates brokered digital currency transfers. As a result of the sanctions, all property and interests of the designated persons in the United States are blocked, and U.S. persons are prohibited from engaging in transactions with the designated individuals and entities.
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