Drug dollars and Chinese cash: dirty money piles up in Los Angeles amid coronavirus lockdown

Dirty money is piling up in Los Angeles. In the last three weeks, federal agents made three seizures that each netted more than US$1 million in suspected drug proceeds.The reason, according to the city’s top drug enforcement official: the coronavirus pandemic has slowed trade-based money-laundering systems that drug trafficking groups use to repatriate profits and move Chinese capital into Southern California.With storefronts closed, supply chains in disarray and the global economy in peril,…

from South China Morning Post https://bit.ly/2YeHkCx