HomeNewsBriefTop Money Launderer for 'El Chapo' Captured in Mexico
BRIEF

Top Money Launderer for 'El Chapo' Captured in Mexico

EL CHAPO / 28 MAR 2016 BY SAM TABORY EN

Authorities in Mexico captured an alleged top money launderer for Sinaloa Cartel boss Joaquín "El Chapo" Guzmán, but his arrest is unlikely to have a significant impact on the criminal organization's drug trafficking operations and revenue streams. 

On March 27, Mexican Federal Police announced via Twitter the capture of Juan Manuel Álvarez Inzunza, alias "El Rey Midas." In addition to working for El Chapo, authorities say Álvarez Inzunza laundered drug money for fellow Sinaloa Cartel leader Ismael Zambada García, alias "El Mayo," reported El Universal

Authorities estimate that Álvarez Inzunza laundered between $300 and $400 million annually for the Sinaloa Cartel, which comes out to more than $4 billion over the last decade. Álvarez Inzunza was arrested on a provisional extradition warrant for money laundering charges issued by a US District Court Judge in Washington, DC. He was captured in the southern state of Oaxaca while on vacation with his family.

In an official statement following the arrest, federal authorities said they are able to link the presumed Sinaloa Cartel operator to a money laundering network with domestic links to the cities of Tijuana, Culiacán and Guadalajara and with international links to Colombia, Panama and the United States. Álvarez Inzunza allegedly used shell businesses and currency exchange houses in the states of Jalisco and Sinaloa to launder illicit funds. 

InSight Crime Analysis 

Although authorities have identified Álvarez Inzunza as a top financial operator for the Sinaloa Cartel, it's doubtful his arrest will jeopardize the financial viability of a criminal organization widely considered to be the most prolific drug trafficking network in the Western Hemisphere.

The cartel functions more as a horizontal network of federated cells than a vertically integrated organization. This business model enables the cartel to run its operations with relative stability and avoid volatility following the arrest of a high-ranking figure. Even El Chapo's capture in February 2014, the world's most wanted drug trafficker at the time, barely made a dent in the cartel's revenue streams.

SEE ALSO:  Sinaloa Cartel News and Profiles

In fact, the biggest consequence of Álvarez Inzunza's arrest might only be seen if and when he is extradited to the United States. Prosecutors could offer him a reduced sentence in exchange for valuable intelligence information on the cartel's financial structure and drug trafficking operations.

share icon icon icon

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

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.

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

Related Content

FENTANYL / 9 NOV 2021

A recent seizure of fentanyl in Mexico has shed further light on the capacity of organized crime groups to mass-produce…

CARIBBEAN / 13 SEP 2021

The dismantling of a drug trafficking and money laundering network implicating government officials in the Dominican Republic has presented a…

CYBERCRIME / 20 OCT 2021

A month after El Salvador’s government introduced Bitcoin as a national currency, an illegal corner of the new economy has…

About InSight Crime

THE ORGANIZATION

All Eyes on Ecuador

2 JUN 2023

Our coverage of organized crime in Ecuador continues to be a valuable resource for international and local news outlets. Internationally, Reuters cited our 2022 Homicide Round-Up,…

WORK WITH US

Open Position: Social Media and Engagement Strategist

27 MAY 2023

InSight Crime is looking for a Social Media and Engagement Strategist who will be focused on maintaining and improving InSight Crime’s reputation and interaction with its audiences through publishing activities…

THE ORGANIZATION

Venezuela Coverage Receives Great Reception

27 MAY 2023

Several of InSight Crime’s most recent articles about Venezuela have been well received by regional media. Our article on Venezuela’s colectivos expanding beyond their political role to control access to…

THE ORGANIZATION

InSight Crime's Chemical Precursor Report Continues

19 MAY 2023

For the second week in a row, our investigation into the flow of precursor chemicals for the manufacture of synthetic drugs in Mexico has been cited by multiple regional media…

THE ORGANIZATION

InSight Crime’s Chemical Precursor Report Widely Cited

THE ORGANIZATION / 12 MAY 2023

We are proud to see that our recently published investigation into the supply chain of chemical precursors feeding Mexico’s synthetic drug production has been warmly received.