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INSIDECENTRALAMERICA
| Saturday 04
September 2010 |
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Guatemala-Based
Money
Laundering
Ring
Revealed
GUATEMALA
-
Guatemala's
national
bank
authority
revealed
the
existence
of a
transborder
money
laundering
ring
that
uses the
country
as its
base of
operations.
The ring
has used
the
trade
and
financial
architecture
of at
least
three
other
countries
as well,
including
Colombia,
Ecuador
and
Panama,
reported
Prensa
Libre
newspaper,
quoting
the
chief
executive
of the
Bank
Superintendency
(SIB),
Edgar
Barquin.
The
operations
involve
cash
generated
by drug,
weapons
and
human
trafficking,
and
other
organized
crime,
laundered
through
the
stock
market,
exports
and
front
companies.
Siglo
Veintiuno
said the
SIB
Special
Investigations
division
submitted
a list
of some
400
suspected
cases to
the
Justice
Ministry.
At the
opening
session
of a
conference
on
financial
supervision,
Barquin
said the
ring
also
used
pre-paid
credit
cards in
Guatemala
to
purchase
and
export
appliances
to
Colombia.
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