Sinaloa Cartel & PRI politician launder money in the Principality of Andorra

Previous Topic Next Topic
classic Classic list List threaded Threaded
2 messages Options
Reply | Threaded
Open this post in threaded view

Sinaloa Cartel & PRI politician launder money in the Principality of Andorra

I bolded a few parts of this article that I thought were key.

Here's the gist for those who don't understand the article: Andorra is a tiny country between Spain and France. A major bank there was very aggressive in soliciting deposits/loans in Latin America. After an investigation into money laundering, they found suspicious accounts tied to Oscar Javier Lara Aréchiga, a major PRI politician in Sinaloa. The investigation suggests he was using these accounts to launder money on behalf of CDS.

Meet Andorra and its relationship with the Sinaloa Cartel

The judge who intervened into the BPA [Banco Privado de Andorra] investigates the identity of a deputy from Sinaloa for money laundering

Andorra.- Recently the newspaper El País has reported that a PRI politician, as well as elements of the Sinaloa Cartel, allegedly laundered money through the Private Bank of Andorra.

Faced with this, the mystery has arisen: Where is Andorra?

Andorra, officially the Principality of Andorra, is a small sovereign country in southwestern Europe. Constituted in a social democratic independent state whose form of government is a parliamentary co-principate. Its territory is organized in seven parishes with a total population of 78,014 inhabitants. Its capital is Andorra la Vella.

It has an area of ​​468 km² and is located in the Pyrenees, between Spain and France, with an average altitude of 1996 m s. N. M. It borders on the south with Spain, with the Catalan regions of Cerdanya, Alto Urgel and Pallars Sobirá, and on the north with France, with the departments of Ariège and Eastern Pyrenees (Occitania).

Its political system is a parliamentary democracy, which has the co-princes of Andorra as chiefs of state: the bishop of Urgel and the president of France; And acting as head of government is the president of the Government.

The official language is Catalan that coexists with Spanish and to a lesser extent with French and Portuguese.

The country has released a judicial document in which it is pointed out that a politician from the Institutional Revolutionary Party (PRI), who was a deputy in the Congress of the Union for the State of Sinaloa in 2009, was included in an account at the Private Banking of Andorra (BPA) with a balance of six million dollars, so informs the Spanish newspaper, that in turn is based on one of the Acts of the Committee for the Prevention of Money Laundering of the mentioned entity, referred to in a judicial order by Judge Canolic Mingorance Cairat, investigator of the BPA investigation, the bank intervened into in 2015.

A request for legal aid has been sent by the judge to Mexico to carry out the investigation into a possible relationship between the Sinaloa Cartel and the BPA, to identify the aforementioned politician and to investigate possible money laundering.

Andorra has a mediterranean and oceanic climate of high mountains, in which the temperatures in winter are cold and in summer soft. There are variations in the climate depending on altitude and orientation. The Principality has a high percentage of sunny days and the weather is somewhat humid.

The average annual minimum is -11 ° C and the maximum is 24 ° C. The most abundant precipitations occur during the fall whereas in winter they are, mainly, of snow.

The judicial document states that: "The holder of three numbered accounts includes in the account his brother who is a politically exposed person, since he was a deputy in the Congress of the Union for the State of Sinaloa in 2009, Secretary of Administration and Finance of the State of Sinaloa between 1999 and 2009, a member of the PRI and an economist. "" The account has a balance of more than USD 6,000,000. The accounts were opened to carry out operations of Back to Back (parallel loans) in Mexico ", affirms the request of judicial aid.

The revelation appears in the aforementioned Canolic Mingorance judicial document, which has been accessed by EL PAÍS, which transcribes one of the minutes of the aforementioned committee, which states that "the holder of three numbered accounts includes in the account To his brother who is a politically exposed person, since he has been a member of the Congress of the Union for the State of Sinaloa since 2009, Secretary of Administration and Finance of the State of Sinaloa between 1999 and 2009, member of the PRI and economist.

The magistrate claims the identification in "full" of this person and that criminal and police certificates are provided.

The judge does not give the name of the owner or his brother, but says that he is a politically exposed person.

According to El Pais, the data provided by Judge Mingorance coincide with those of Oscar Javier Lara Aréchiga, 65, a representative of Sinaloa of the PRI during that period, Secretary of Administration and Finance of the State and a graduate in Economics.

In its profile of the Congress of the Union, Lara also held positions in the Federal Public Administration as regional director of the Bank of the Atlantic, regional advisor of the National Rural Credit Bank and the same position in the National Financial. He was also deputy director general of Infrastructure of the Sagarpa.

Lara Aréchiga stopped being a deputy in 2012 and last year participated in the PRI race for governor, but without success.

The former deputy denies in telephone conversation with this newspaper to be the person who is investigated by the Justice of Andorra. After reading the paragraph describing the person "politically exposed" respond in this way, in a brief conversation after which the phone hangs:

-I'm not that person

- Can you confirm to us if you have had an account in the Private Bank of Andorra?

"I can not give you that information."

"And one of your brothers?"

"I can not answer for him."

The Andorran judge's statement describes BPA's commercial policy as "extremely aggressive" in Latin America and does so: "The entity facilitated to clients that captured the necessary corporate structure through BPA Serveis, which worked mainly through Panamanian legal entities and had set up a cash clearing system among customers to reduce the risk of physical transportation of liquid and to allow the influx of large amounts that were not banked.

Mingorance adds that Mexico was initially a stronghold for the entity, "to the point of acquiring a building in the federal capital to establish the headquarters.

"Abruptly decides to dismantle the whole structure and leave the country. According to statements by Isabel Camino Sarmiento, at that time responsible for compliance (department that monitors internal and external regulatory compliance of the bank), they had some type of problem and OFAC (Office of Foreign Assets Control, The United States Embassy in Mexico, without being able to determine the origin of the problem. "

The magistrate explains that it was in the light of these facts that in the course of the judicial investigation the proceedings of the Committee of Prevention of Money Laundering were analyzed, where the PRI politician's track was found.

Mingorance points out that in March 2015, when the BPA scandal erupted, the Financial Crimes Enforcement Network (FinCen), which is dependent on the US Treasury Department. UU. Made public a note on this bank in which it placed this bank as the center of a large money-laundering plot linked to the Sinaloa Mexican cartel, the Russian and Chinese mafias in Spain and the Petróleos de Venezuela company. After the intervention of the bank, the board of directors was dismissed.

Mingorance last year processed 24 people accused of facilitating money laundering through the so-called bank clearing system, money does not move and the client who wants to repatriate their hidden fortune in a tax haven is left with another who wants to get it out from the country.
Reply | Threaded
Open this post in threaded view

Re: Sinaloa Cartel & PRI politician launder money in the Principality of Andorra

This post was updated on .
I used Google Earth to explore Andorra.  Wow!  It is a beautiful and healthy looking little nation.  I am extremely glad that this nation did the right thing.  It would be social suicide for Andorra to get "infected"  with Mexican criminals and their bloody money.  

Sure, there would be a honeymoon period, but in time the corrupting criminogenic Mexican way would kick in and Andorra could become a narco distribution center for Spain and nearby nations.  It is certainly ideally located for this.  Check this out on Google Earth.  

Andorra, please stay clean and beautiful.... don't dance with the Mexican devils.