Ecuador Dismantles Cartel’s Laundering Network

By Dialogo
February 12, 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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