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(Apr 02, 2012) On March 26, 2012, it was announced that the United States and Mexican Attorneys General had signed a letter of intent whereby the United States will share about $6 million in forfeited money resulting from an anti-money laundering operation with Mexico's Department of Justice, in order to bolster Mexican operations aimed at combating the acquisition of financial resources by criminal organizations. (Press Release, U.S. Department of Justice, Office of Public Affairs, U.S. and Mexican Officials Sign Letter of Intent to Share $6 Million in Forfeited Assets to Combat Financial Intrastructure of Organized Crime (Mar. 26, 2012).)

The letter of intent acknowledges the collaboration of Mexico's Department of Justice in an investigation led by the U.S. government against the Sigue Corporation (a U.S. company that provides money transfer services to Mexico). That company reached a deferred prosecution agreement with the U.S. Department of Justice in 2008 for not having an adequate anti-money laundering program. This resulted in the company forfeiting $15 million to the United States government, part of which will now be shared with Mexico to support its ability to prosecute money laundering crimes and pursue the forfeiture of criminal proceeds. (Press Release, supra; Press Release, Financial Crimes Enforcement Network, U.S. Department of the Treasury, Sigue Corp. and Sigue, LLC of California to Pay $15 Million to U.S. Government for Anti-Money Laundering Program Deficiencies (Jan. 28, 2008).)

Author: Gustavo Guerra More by this author
Topic: Money laundering More on this topic
Jurisdiction: Mexico More about this jurisdiction
 United States More about this jurisdiction

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Last updated: 04/02/2012