$29 Million USD & €17 Million Euro Confiscated in Bogota, Colombia Residence!!
DIFFERENT POINT OF VIEW by Monte Friesner
Financial Crime Consultant for WANTED SA
Thursday October 07, 2010
WANTED SA SPECIAL REPORT:
Do we want to know where all the drug money that is successfully bulk cash smuggled out of the Continental United States ends up? Here's a hint; $29 Million USD & €17 Million Euro were confiscated this week in a rundown district of southern Bogota, Colombia.
It is just a small part of $140 Million USD confiscated by Colombian Law Enforcement during the past month of September. Remember, that's just the tip of the iceberg. Billions of Narco Dollars exit the United States each year, via land, sea and air, eluding local, state and Federal law enforcement agencies.
Obviously, present policies and procedures simply aren't working. It is high time to employ more effective strategies and techniques. These seizures merely illustrate the abject failure of current methods.
The Colombians purchase large Power Yachts in the USA from yacht brokers in Latin America and USA and fill their water tanks with USD Cash. The same is utilized with Power Yachts purchased in Europe which are then transported by carriers to Colombia. Once the yachts arrive the cash is taken out and the yachts resold using the exact same cash to further purchase more yachts.
Great way to “launder money” using the oceans!
The confiscated cash is believed by Colombian authorities to belong to fugitive Narco-Kingpin Daniel Barrerra Barrera* who is a major trafficker. At present Barrerra who has a $2.7 Million USD bounty price on his head was posted by Colombia. Barrera, known in the drugs trade as "El Loco" [the crazy one], is alleged to be a primary supplier of cocaine to the FARC.
The facts and opinions stated in this article are those of the author and not those of WANTED SA. WANTED SA does not warrant the accuracy of any facts and opinions stated in this article; does not endorse them, and accepts no responsibility for them.