Sunday, July 7, 2019

Feds Move on El Chapo’s $12 Billion Assets, Ted Cruz Has Border Security Plans for the Money

Federal prosecutors are seeking to seize convicted Mexican drug lord Joaquin “El Chapo” Guzman’s assets, claiming he owes the United States in excess of $12 billion.
Citing documents filed in Brooklyn federal court, the New York Post reported Friday that the U.S. government is looking to collect $12,666,191,704 from the drug lord, who was convicted in February.
“The government is entitled to the forfeiture of all property that constitutes or is derived from the defendant’s narcotics-related crimes, as well as any property that facilitated the commission of those crimes,” Friday’s court filing said.
While it’s unclear how much of Guzman’s wealth remains, the Post said a witness testified that the drug lord once lived in luxury, having owned a fleet of planes and even his own zoo.
Moreover, prosecutors say they don’t have to prove Guzman currently has $12 billion in cash in order to seize his assets.
Just the fact that his assets were once that worth that amount is sufficient, they say.
Read the rest of the story HERE.

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