According to a recent report, an alleged money laundering scheme worth $92 million passed undetected through three major US banks. The scheme involved a group of individuals involved in drug trafficking and money laundering, who supposedly deposited hundreds of thousands of dollars of illicit funds into accounts at JPMorgan Chase, Bank of America, and Wells Fargo. The information is based on court documents cited by CNN.
The US Justice Department has indicted a 37-year-old woman named Enhua Fang, accusing her of leading a drug money laundering network responsible for depositing a total of $17 million in cash at various banks across the country. Prosecutors claim that Fang’s couriers made over 100 cash deposits worth $17 million in banks from California to Virginia. As for Fang’s alleged associates, they reportedly deposited hundreds of thousands of dollars into accounts at JPMorgan Chase, Bank of America, and Wells Fargo, as per court documents.
Fang was apprehended in Oregon in April. The Justice Department alleges that she was the main point of contact for Mexican drug trafficking groups and that she deposited illicit funds into bank accounts across 20 states, including California, Florida, Illinois, Indiana, Missouri, North Carolina, Tennessee, Texas, Virginia, and Wisconsin, according to The Oregonian.
While Wells Fargo and Bank of America have chosen not to comment on the allegations, JPMorgan Chase has not responded to requests for a statement.
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