Feds striking out in search for El Chapo cash
THE FEDS have hit a wall when it comes to seizing El Chapo’s money.
After Texas Sen. Ted Cruz proposed a plan last month to stick reputed drug cartel king El Chapo with the tab for President Trump’s much-ballyhooed border wall, it was revealed Wednesday that American authorities have not been able to find a trace of his dirty money.
According to Mexico’s attorney general, getting the jailed drug lord — whose real name is Joaquin Guzman — to foot the border bill is as reasonable as expecting him to turn over a new leaf.
“As of today, U.S. authorities have not found not even one dollar of El Chapo’s assets,” Mexican Attorney General Raul Cervantes said in a local TV interview.
A federal indictment in the United States seeks the forfeiture of more than $14 billion of drug proceeds and illicit profits allegedly derived from the Sinaloa Cartel’s activities.
Mexico has only found minor assets belonging to Guzman, Cervantes said.
“His money hasn’t been found because he didn’t use the financial system,” he added.
On the campaign trail, Trump said he would build a wall between the U.S. and Mexico to keep out undocumented immigrants — and that Mexico would pay for its construction.
But Trump was one-upped by Cruz, his former campaign rival, who said Guzman’s money should help pay for the wall.
An internal Department of Homeland Security report from February said the wall would cost up to $21.6 billion, though Republican leaders such as Senate Majority Leader Mitch McConnell have claimed it could be built at a bargain $15 billion.
Cruz’s EL CHAPO Act seeks to pay for the barrier with $14 billion from the Mexican gangster awaiting his federal trial in Brooklyn.
“Fourteen billion dollars will go a long way toward building a wall that will keep Americans safe and hinder the illegal flow of drugs, weapons, and individuals across our southern border,” Cruz said in a statement proposing the Sinaloa cartel’s riches as a force of funds.
A draft of the EL CHAPO Act — or the Ensuring Lawful Collection of Hidden Assets to Provide Order Act — says the practice could extend beyond the 60-year-old Guzman to other drug cartel members.
Guzman, who twice escaped from Mexican prisons before being recaptured and extradited to the U.S. earlier this year, faces federal charges including conspiracy to murder and money laundering.
He was extradited to the U.S.to face charges on Jan. 19, the eve of Trump’s inauguration.
Guzman has a hearing scheduled for Friday in Brooklyn Federal Court.