The Justice Department has unveiled a 10-count superseding indictment against Los Angeles-based associates of Mexico's notorious Sinaloa drug cartel. These individuals are accused of conspiring with Chinese underground banking networks to launder over $50 million in drug trafficking proceeds.

The indictment is a result of "Operation Fortune Runner," a multi-year investigation that saw the cooperation of law enforcement agencies in the United States, China, and Mexico. This collaborative effort led to the arrests of several fugitives named in the indictment who had previously fled the United States.

The lead defendant, Edgar Joel Martinez-Reyes, 45, of East Los Angeles, and his associates allegedly used sophisticated methods to conceal the origins of their illicit proceeds. These methods included trade-based money laundering, structuring assets to avoid federal reporting requirements, and the purchase of cryptocurrency.

Martinez-Reyes is reported to have traveled to Mexico in January 2021 to negotiate with Sinaloa Cartel members and Chinese underground banking operatives. This alliance facilitated the movement of drug proceeds in the United States, making them accessible to cartel members in Mexico.

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Law enforcement has seized approximately $5 million in narcotics proceeds, along with 302 pounds of cocaine, 92 pounds of methamphetamine, 3,000 Ecstasy pills, 44 pounds of psilocybin (magic mushrooms), ounces of ketamine, three semi-automatic rifles with high-capacity magazines, and eight semi-automatic handguns.

U.S. Attorney Martin Estrada for the Central District of California emphasized the gravity of the situation, stating, "Dangerous drugs like fentanyl and methamphetamine are destroying people’s lives, but drug traffickers only care about their profits. To protect our community, therefore, it is essential that we go after the sophisticated, international criminal syndicates that launder the drug money."

DEA Administrator Anne Milgram highlighted the relentless greed driving these cartels, declaring, "This DEA investigation uncovered a partnership between Sinaloa Cartel associates and a Chinese criminal syndicate operating in Los Angeles and China to launder drug money."

The indictment charges 24 defendants with conspiracy to aid and abet the distribution of cocaine and methamphetamine, conspiracy to launder monetary instruments, and conspiracy to operate an unlicensed money transmitting business. If convicted, each defendant faces a mandatory minimum of 10 years in prison and a maximum penalty of life in prison.

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The investigation was a collaborative effort involving the DEA, IRS Criminal Investigation, several local police departments, the FBI, and the U.S. Marshals Service. The Justice Department's Office of International Affairs and the Criminal Division's Narcotic and Dangerous Drug Section’s Special Operations Unit also played key roles.

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