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A Chinese American gangster transformed money laundering for drug cartels

190 点作者 Jerry2超过 2 年前

15 条评论

zoklet-enjoyer超过 2 年前
Fentanyl came in from China for years before they moved the synthesis to Mexico. I was active in online drug forums before, during, and shortly after Silk Road. So many drugs came from China and their government didn't care. It would not surprise me if they encouraged it not just because of monetary gain, but because of political objectives. I have believed since 2010 that it was a form of warfare that they could plausibly deny. So much fentanyl was coming in for so cheap, it was crazy. I don't know anything about what's going on now, but they were practically giving it away back then
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forkLding超过 2 年前
Just a note: The money-laundering system this criminal is part of is called a 地下钱庄 in Chinese or &quot;underground banks&quot; (<a href="https:&#x2F;&#x2F;fintrac-canafe.canada.ca&#x2F;intel&#x2F;advisories-avis&#x2F;bank-eng" rel="nofollow">https:&#x2F;&#x2F;fintrac-canafe.canada.ca&#x2F;intel&#x2F;advisories-avis&#x2F;bank-...</a>), originally started in the 1980s in Mainland China when free-market reforms brought non-regulated &quot;banks&quot; (more just a group of people calling themselves a bank) and informal &quot;loan&quot; companies&#x2F;loan sharks, they were soon co-opted by corrupt officials to bring money out of the country and since about 2018 any Chinese citizen who wishes to bring money for big purchases like real estate investment outside of China uses a form of underground banking since China puts an annual limit of $50,000 USD on money that can be taken out of the country (<a href="https:&#x2F;&#x2F;nhglobalpartners.com&#x2F;moving-money-in-and-out-china-rules&#x2F;" rel="nofollow">https:&#x2F;&#x2F;nhglobalpartners.com&#x2F;moving-money-in-and-out-china-r...</a>).<p>Technically speaking, if you want to exceed the limit, you can send in an application form to explain and hopefully get approved to take out more money than that $50,000 limit but the original intent of this law was to restrict money flowing out of China and it is very hard to get approved beyond the limit.
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photochemsyn超过 2 年前
Given China&#x27;s known role in fentanyl production and now this revelation about the other end of the trade, could it be they view this as some kind of long-term payback for things that took place some 200 years ago?<p>Source: Smuggler Nation: How Illicit Trade Made America by Peter Andreas (2013)<p><a href="https:&#x2F;&#x2F;www.goodreads.com&#x2F;book&#x2F;show&#x2F;13689883-smuggler-nation" rel="nofollow">https:&#x2F;&#x2F;www.goodreads.com&#x2F;book&#x2F;show&#x2F;13689883-smuggler-nation</a><p>&gt; &quot;Smuggling was also common practice for U.S. merchant ships penetrating the Chinese market for the first time... In the first decade of the nineteenth century, U.S. merchants would also begin to make inroads into the ilicit China opium market, much to the alarm of the British East India Company, which jealously protected its opium-smuggling monopoly. Jacque Downs, the foremost historian of the early U.S.-China opium trade, writes: &quot;The Americans were marvelously ingenious in their exploitation of the commerce. They managed to circumvent both the East India Company&#x27;s franchise and the Chinese Government&#x27;s prohibition and carried on a very lucrative, if antisocial and ultimately ruinous trade.&quot; Dominated by a handful of players, opium smuggling by American shippers would become increasingly vital to U.S.-China trade relations, with opium sales generating the revenue to buy Chinese goods such as silks and teas. Many of America&#x27;s most elite merchant families made fortunes in the opium trade: &quot;Girard, Astor, Joseph Peabody of Salem, John Donnell of Baltimore, and the Perkins firm (now allied with Bryant and Sturgis) were among the largest shippers of the drug.&quot; &quot;<p>Yes, legalization&#x2F;decriminalization plus public health education campaigns and a ban on marketing and doctor kickbacks would probably destroy drug profits around the world.
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dirtyid超过 2 年前
&gt;Prosecutors charged him with leading a conspiracy that washed at least $30 million, a number backed by direct evidence. The full amount was likely in the hundreds of millions, according to law enforcement documents and interviews.<p>...<p>&gt;“They had to know it was illegal,” Ciesliga said. “Just the sheer amount of money, and the volume and consistency and frequency, there’s no legitimate businesses that are moving that kind of money. Any alert anti-money laundering investigator would have detected this kind of activity.”<p>This article has been given folks conniptions over PRC influence in Americas &#x2F; Unrestricted warfare memes. Honestly even given generous interpretation of 100s of millions as a billion, over the alleged timeframe (first courier picked up in 2016, we&#x27;re talking about ~150M per year, aka a few hundred houses in a nice western city or a few thousand international university tuitions. Operation is peanuts. Especially vs 20B-40B per year drug trade in Americas, 20B per year PRC telecom scams, or the 100s of billion per year PRC capital flight racket. Doesn&#x27;t feel large enough to be on PRC radar for domestic enforcement, nor is PRC short of $$$ to do influence OPs to need laundering via such schemes. That said, I&#x27;d like to see a more detailed accounting of PRC&#x2F;Asian syndicate influenced footprint in the Americas.
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ttul超过 2 年前
It’s almost as if handing a $600B industry to criminals might have been a bad idea. Instead of dealing with national level corruption, we could just end the war on drugs.
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paywallasinbeer超过 2 年前
Related: a fascinating article about Asian drug networks <a href="https:&#x2F;&#x2F;www.reuters.com&#x2F;investigates&#x2F;special-report&#x2F;meth-syndicate&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.reuters.com&#x2F;investigates&#x2F;special-report&#x2F;meth-syn...</a>
Tangokat超过 2 年前
&quot;Wealthy Chinese who want to get around limits on moving money out of China “buy” the $350,000 from Li’s couriers in the U.S. They often use the U.S. dollars to buy real estate or pay for U.S. college tuition. &quot;<p>You can buy real estate in the US in cash no questions asked? Is that true?
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ct520超过 2 年前
Good site if you into narco news.. <a href="http:&#x2F;&#x2F;www.borderlandbeat.com&#x2F;2021&#x2F;04&#x2F;chinese-nationals-used-us-banks-to.html?m=1" rel="nofollow">http:&#x2F;&#x2F;www.borderlandbeat.com&#x2F;2021&#x2F;04&#x2F;chinese-nationals-used...</a>
cuteboy19超过 2 年前
I thought they were talking about Changpeng Zhao for a moment
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DeathArrow超过 2 年前
Meanwhile CIA and other US agencies never used criminal organizations in foreign countries to further their goals...
newsclues超过 2 年前
Check out Wilful Blindness by Sam Cooper about the Vancouver model of OC money laundering
O__________O超过 2 年前
TLDR: “Li and his fellow Chinese money launderers married market forces: drug lords wanting to get rid of dollars and a Chinese elite desperate to acquire dollars. The new model blew away the competition.”<p>Comment: Nation states have been waging asymmetric warfare for long time, this is not new. China has become a major player in the illegal drug trade by supplying money laundering and chemicals [1]. Oldest modern reference I am aware of on the topic as it relates to China is a book on military strategy written in 1999 by two colonels in the People&#x27;s Liberation Army titled Unrestricted Warfare.[2]<p>__________________<p>[1] <a href="https:&#x2F;&#x2F;google.com&#x2F;search?q=china+fentanyl" rel="nofollow">https:&#x2F;&#x2F;google.com&#x2F;search?q=china+fentanyl</a><p>[2] <a href="https:&#x2F;&#x2F;wikipedia.org&#x2F;wiki&#x2F;Unrestricted_Warfare" rel="nofollow">https:&#x2F;&#x2F;wikipedia.org&#x2F;wiki&#x2F;Unrestricted_Warfare</a>
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AtlasBarfed超过 2 年前
The US funds these cartels with its ludicrous war on drugs. Decriminalization would fix so many things.<p>China gets to turn the historical tables on the Opium wars.<p>And it&#x27;s not like the US&#x2F;EU banking system isn&#x27;t complicit in money laundering. When they get caught, they are handslapped a pittance. And we tolerated outrageous opium farming by the former corrupt Afghanistan government.<p>The US needs a rational policy to deal with its bored suburban teenager problem that is turning Latin america into a dual-continent mafia state that puts Putin to shame.
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20221014ta超过 2 年前
In this incoming cold war, expect the Chinese to attract support by setting up tax havens the IRS can’t touch<p>Already seen with Russian oligarchs sending their yachts to HK<p>The US shall, of course, return the favour
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alx__超过 2 年前
Ironic that the CIA showed other countries the basics of how to do this :&#x2F;<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Allegations_of_CIA_drug_trafficking" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Allegations_of_CIA_drug_traffi...</a>
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