Nation/World

U.S. To Seize $1.5 Billion In Drug Cash

Colombian drug lords stand to lose $1.5 billion in a nationwide bank account seizure planned by federal officials, The Dallas Morning News reported.

Agents intend to seize 5,000 bank accounts in Florida, New York, Texas and California that are allegedly controlled by drug lords, the newspaper reported Friday on its Web site.

The seizures could begin on Monday and take two years.

Simultaneous arrests were unlikely because most of the account holders and managers live outside the United States, one investigator said.

“Seizing a drug trafficker’s assets, being able to establish a paper trail of money derived through illegal proceeds, is one of the most effective tools in law enforcement,” said Wilfredo Fernandez, spokesman for the U.S. Attorney’s Office for the Southern District of Florida.



Click here to comment on this story »







Sections


Profile

Contact the Spokesman

Main switchboard:
(509) 459-5000
Customer service:
(800) 338-8801
Newsroom:
(509) 459-5400
(800) 789-0029
Back to Spokesman Mobile