U.S. Treasury Sanctions Two Money Laundering Networks Linked to Sinaloa Cartel, Targets Dozen Individuals

According to OFAC, the U.S. Treasury Department sanctioned two money laundering networks linked to the Sinaloa drug cartel, involving more than a dozen individuals and entities. One network was allegedly responsible for converting cash from fentanyl and other drug sales into cryptocurrency and transferring it to high-ranking members of the Sinaloa organization, including members of the Los Chapitos faction controlled by Ivan and Alfredo Guzman Salazar, sons of imprisoned cartel leader Joaquin "El Chapo" Guzman.

Sanctioned individuals include Armando de Jesus Ojeda Aviles and Jesus Gonzalez Penuelas. Under the sanctions, assets held by the designated entities within the U.S. will be frozen, and U.S. citizens and companies are prohibited from conducting transactions with them.