PHOENIX – The federal government announced last month that they are continuing to follow the money trail of members of the drug cartels to drain the financial lifeblood of these criminal enterprises, DEA officials.
“DEA and its OFAC ( the U.S. Department of the Treasury’s Office of Foreign Assets Control) partners will not allow these dangerous cartels and their associates to exploit the U.S. financial system,” said DEA Special Agent in Charge Doug Coleman. “We’re relentlessly following the financial trail to deprive these traffickers of their assets, draining the lifeblood from their criminal enterprises.”
The Foreign Narcotics Kingpin Designation Act (Kingpin Act) prohibits U.S. persons from conducting financial or commercial transactions with drug cartel dealers and also freezes any assets he may have under U.S. jurisdiction, DEA officials said.
Since June 2000, the President has identified 103 drug kingpins, and Office of Foreign Assets Control has designated more than 1300 entities and individuals,
Criminal penalties for corporate officers may include up to 30 years in prison and fines up to $5 million. Criminal fines for corporations may reach $10 million. Other individuals could face up to 10 years in prison and fines.
For a chart relating to today’s actions click here.