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Feds have no idea where El Chapo is hiding his fortune

May 4, 2017  |  Posted by: JammedUp Staff
Feds have no idea where El Chapo is hiding his fortune

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Ted Cruz’s idea about having jailed Mexican drug lord Joaquin ‘El Chapo’ Guzman pay for Trump’s border wall seemed like a good idea…in theory. The one problem is U.S. authorities can’t seem to locate a single dollar of his multi-billion dollar fortune that he allegedly amassed as the leader of the infamous Sinaloa Cartel.

According to Mexican law enforcement officials, U.S. federal investigators have yet to track down a single dollar from Guzman’s $14 billion-dollar narcotics enterprise.

“As of today, U.S. authorities have not found not even one dollar of El Chapo’s assets,” Raul Cervantes, a spokesman for Mexico’s Attorney General, said during an interview with a morning talk show on Televisa on Wednesday.

According to the Guardian Newspaper in the U.K., officials stated that “His money hasn’t been found because he didn’t use the financial system.”

‘El Chapo’ was extradited from Juarez, Mexico to New York back on January 19th

Mexico abruptly extradited Guzman to the United States in January to face a 17-count indictment accusing him of running the Sinaloa Federation Cartel, the world’s largest and most powerful drug trafficking organization.

Guzman has pleaded not guilty to charges including organized crime, drug trafficking, murder, conspiracy and money laundering offenses.

In addition to life in prison, prosecutors also seek a $14 billion forfeiture that Guzman is alleged to have made in profits from the sale of illegal narcotics during his 30-year reign as the syndicate’s boss.

However, U.S. officials have conceded the difficulty in determining the value of Guzman’s fortune he made throughout his criminal career.

U.S. authorities have not located a single dollar of “El Chapo’s” fortune

Justice Department prosecutors based the amount on estimated drug sales the cartel accumulated between 1989 and 2014.

Guzman made the 2009 Forbes list, which estimated his net worth to be $1 billion.

However, ‘El Chapo’ was removed four years later when his whereabouts remained unknown following his second escape from prison and his access to the funds was likely limited.

Guzman is set to appear back in Brooklyn federal court on Friday, where his attorneys will ask a judge to relax conditions of his solitary confinement.

Since his arrival in New York, the drug lord has filed several complaints against the conditions of his incarceration at the high-security Manhattan Correctional Center.

The claims state the restrictions of his confinement has caused Guzman to become mentally deranged, which includes suffering from auditory hallucinations and having “Mexican music” looping in his head.

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