Ecuador Dismantles Cartel's Laundering Network

Ecuador has uncovered a money laundering network worth as much as 60 million dollars, prosecutors said on Wednesday.
WRITER-ID | 12 February 2009

Ecuador has uncovered a money laundering network worth as much as 60 million dollars, prosecutors said on Wednesday.

Eleven people were arrested when police wound up the network -- said to be linked to Colombia's notorious Cali cartel.

"The amounts that were managed total between 50 and 60 million dollars," said Washington Pesantez, a spokesman for Ecuador's chief prosecutor.

The scam centered on a married Ecuadorian couple who spun-off dozens of shell firms from a central business.

The police sting spanned five provinces and resulted in the seizure of 30 firms.

"They laundered vast sums of money for the Cali cartel," said Jose Cisneros, a prosecutor.

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