Source: The Wall Street Journal
The U.S. Treasury Department said Tuesday it imposed Kingpin Act sanctions on two men with alleged ties to the Sinaloa Cartel, including one of its reputed chief money launderers.
Treasury said it imposed sanctions on Juan Manuel Alvarez Inzunza, a who it said is a money launderer, and Jose Olivas Chaidez, who it alleged is a key narcotics trafficker. As a result, their U.S. assets are frozen and Americans are barred from doing business with them.
The sanctions designations “represent a strategic blow” to the cartel’s ability to move drugs and launder drug-linked proceeds into Mexico, Central America and South America, said John Smith, acting director of Treasury’s Office of Foreign Assets Control, in a statement….