Chinese Money Launderers Are Central to Cartels’ Fentanyl Trade: Rep. McClain
China’s communist regime is overlooking massive money laundering schemes conducted by Chinese nationals to support cartels flooding the United States with lethal opioids.
The Chinese Communist Party (CCP) gives cover to money laundering schemes supporting the production of synthetic drugs that kill hundreds of thousands of Americans, according to testimony received during an April 26 hearing of the House Subcommittee on Healthcare and Financial Services.
“Criminal organizations based in [China] have captured the money laundering organizations of the cartels,” said Subcommittee Chair Lisa McClain (R-Mich.).
“We have to work together to find solutions to fight against the CCP.”
Chinese Money Laundering Critical to Cartels
The subcommittee examined how Chinese money laundering organizations (MLOs) have become an indispensable part of Latin American cartels and are depended upon to launder illicit funds needed for producing and financing fentanyl and fentanyl-related compounds….