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U.S. Treasury Department sanctions two Mexican companies connected to drug cartel

April 22, 2017  |  Posted by: Francesca Falzarano
U.S. Treasury Department sanctions two Mexican companies connected to drug cartel

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On Thursday, the Treasury Department targeted two Mexican businesses that property management officials allege are linked to a drug cartel.

The Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against Yorv Inmobiliaria and Grupo Segtac, S.A. de C.V., which are property companies operated out of Mexico. Each organization runs a Mexican shopping center that serves as a front for the Los Cunis Drug Trafficking Organization.

The companies were categorized as narcotics traffickers by OFAC, cutting them off from the U.S. financial system and banning U.S. citizens and corporations from doing business with them.

Treasury Department officials said the actions taken by OFAC targeted Abigail Gonzalez Valencia is the leader of the Los Cuinis, which is the financial arm of the abhorrently violent Jalisco New Generation Cartel (CJNG) led by Mexico’s most feared drug lord Nemesio Oseguera Cervantes better known as ‘El Mencho.’

Valencia, who is the brother-in-law of ‘El Mencho’ has been identified by DEA officials as the world’s richest drug trafficker. Mexican authorities captured

Mexican authorities captured Valencia during an operation in the resort city of Puerta Vallarta, Jalisco in March 2015.

Last month, the Mexican Attorney General revealed plans to extradite Valencia to the United State, to stand trial for a drug trafficking indictment filed in the Federal Court for the District of Columbia

In April 2016, OFAC sanctioned seven other companies linked to Los Cuinis and  CJNG.

“OFAC will continue to target front companies that have been created for the purpose of concealing the interests of Gonzalez Valencia, the Los Cuinis, and their allies to evade sanctions,” OFAC Director John E. Smith said. “In coordination with law enforcement and the Mexican government, OFAC will expose and disrupt these organizations’ operations and assets.”

The move by the Treasury Department comes as the Trump administration concentrates on controlling Latin American drug cartels and gangs, particularly MS-13.

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