HomeNewsBriefColombia Cartel Laundered European Profits Through Ecuador
BRIEF

Colombia Cartel Laundered European Profits Through Ecuador

COLOMBIA / 31 AUG 2011 BY VERONICA PRATES EN

Colombia‘s Norte del Valle drug cartel has been laundering money through a network in Ecuador, according to the Ecuadorian authorities.

This was discovered through the Spanish Police’s operation “Espejo” (Mirror), which has been in progress for the past two years, reported Ecuadorian newspaper El Comercio.

The Norte del Valle Cartel is generally considered defunct. Those involved in the laundering ring could be former Valle operatives acting independently, or perhaps members of the Rastrojos, a gang which started as an armed force for one faction of Norte del Valle, before taking over much of the group’s old territory.

According to the report, money from drug sales in Europe was sent to Ecuador through remittances and internet transfers to front companies. It was then distributed among in different bank accounts to be withdrawn in quantities below $30 by various individuals, who would physically take the cash to Colombia and deliver it to cartel members.

The Ecuadorian Money Laundering Unit said that between 2007 and 2010, the organization transferred about $4.5 million through the Internet and sent 2.1 million euros disguised as remittances in 2010.

The investigations was carried out in six municipalities of Ecuador, and has found four front companies and 470 people involved in the operations in that country. There is an arrest warrant for all suspects, but most have not been found, an officer told El Comercio.

Compartir icon icon icon

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Related Content

COLOMBIA / 2 NOV 2016

Official estimates suggest that 11 percent of Colombia's population is allegedly involved in illegal activities, a questionable assertion that nonetheless…

COLOMBIA / 19 MAR 2013

Colombian police have seized more than 3,000 synthetic drug pills, prompting comments from the national police director that such substances…

COLOMBIA / 1 FEB 2011

In an unprecedented display of non-partisanship, President Hugo Chavez’s government is teaming up with opposition political officials in the Venezuelan…

About InSight Crime

THE ORGANIZATION

We Have Updated Our Website

4 FEB 2021

Welcome to our new home page. We have revamped the site to create a better display and reader experience.

THE ORGANIZATION

InSight Crime Events – Border Crime: The Northern Triangle and Tri-Border Area

ARGENTINA / 25 JAN 2021

Through several rounds of extensive field investigations, our researchers have analyzed and mapped out the main illicit economies and criminal groups present in 39 border departments spread across the six countries of study – the Northern Triangle trio of Guatemala, Honduras, and El…

BRIEF

InSight Crime’s ‘Memo Fantasma’ Investigation Wins Simón Bolívar National Journalism Prize

COLOMBIA / 20 NOV 2020

The staff at InSight Crime was awarded the prestigious Simón Bolívar national journalism prize in Colombia for its two-year investigation into the drug trafficker known as “Memo Fantasma,” which was…

ANALYSIS

InSight Crime – From Uncovering Organized Crime to Finding What Works

COLOMBIA / 12 NOV 2020

This project began 10 years ago as an effort to address a problem: the lack of daily coverage, investigative stories and analysis of organized crime in the Americas. …

ANALYSIS

InSight Crime – Ten Years of Investigating Organized Crime in the Americas

FEATURED / 2 NOV 2020

In early 2009, Steven Dudley was in Medellín, Colombia. His assignment: speak to a jailed paramilitary leader in the Itagui prison, just south of the city. Following his interview inside…