Looking for El Chapo's billions

Defence counsel for Joaquin 'El Chapo' Guzman says the money has never been located.

08 July 2019 | International

Prosecutors on Friday said they were seeking US$12.7 billion from convicted Mexican drug kingpin Joaquin 'El Chapo' Guzman, based on a conservative estimate of revenues from his cartel's drug sales in the United States.

According to a motion filed by US attorney Richard Donoghue, authorities are “entitled to forfeiture of all property that constitutes or is derived from the defendant's narcotics-related crimes”.

Based on prices for drugs quoted by various witnesses, Guzman's 25-year reign atop the Sinaloa cartel netted sales of some US$11.8 billion in cocaine, US$846 million in marijuana and US$11 million in heroin, authorities said.

The money was laundered and used to pay the cartel's workers and suppliers, as well as used to purchase communications equipment and “planes, submarines and other vehicles”.

“The government need not prove that the defendant can pay the forfeiture money judgment; it need only prove by a preponderance of evidence that the amount it seeks is forfeitable,” prosecutors said.

Guzman's lawyer, Jeffrey Lichtman, told US media that the demand is “largely an academic exercise as the government has never located or identified even a penny of this US$12.7 billion in proceeds supposedly generated by Mr Guzman”.

Guzman, 62, was found guilty in February following a three-month trial for trafficking hundreds of tons of cocaine, heroin, methamphetamines and marijuana to the United States over the course of 25 years.

He was also convicted on money laundering and weapons possession charges by jurors who heard how he had beaten, shot and even buried alive those who got in his way.

A former El Chapo associate said during the trial that the drug kingpin lived a lavish lifestyle in the 1990s - the height of his power - with four jets for travelling the world, a beachfront mansion in Acapulco and a private zoo on his sprawling estate in Guadalajara.

It was not clear which assets Guzman still possesses following his extradition to the United States in January 2017 and which have been transferred to family and friends.

Guzman is set to be sentenced on July 17, and is expected to be ordered to spend the rest of his life in prison.



NAMPA/AFP

Similar News

 

Tanzania 'anti-gay' force official Paul Makonda banned from US

3 weeks ago - 03 February 2020 | International

BBC A top Tanzanian official who launched a surveillance squad dedicated to hunting down gay people has been banned by the US from entering...

Chinese army to oversee virus hospital

3 weeks ago - 03 February 2020 | International

China's army was given control yesterday of a nearly-finished field hospital that will treat patients at the epicentre of a deadly virus epidemic that has...

Voodoo makes a comeback in its Benin home

1 month - 13 January 2020 | International

DELPHINE BOUSQUET In his long life, voodoo priest Kpohinto Medji has seen his religion flourish and then go into decline, banned for years by the...

Iran fires missiles at US troop bases in Iraq

1 month - 09 January 2020 | International

Iran fired a volley of missiles at Iraqi bases housing US and other foreign troops yesterday, the Islamic republic's first act in its promised revenge...

Ukraine passenger jet crashes in Iran

1 month - 09 January 2020 | International

A Ukrainian airliner carrying 176 people from seven countries crashed shortly after take-off from Tehran yesterday, killing all on board.The vast majority of the passengers...

Families seek answers on 'Lusaka massacre'

2 months ago - 23 December 2019 | International

The remains of seven suspected criminals who were shot dead in Lusaka on 5 December have been returned to Namibia. Relatives who went to...

Namibian Correctional Service takes the lead

3 months ago - 11 November 2019 | International

Namibia, through the Namibian Correctional Service (NCS), has become the first Southern Africa Development Community (SADC) country to launch a country-specific Corrections/Prisons Women's Network as...

Cassinga survivors join Cubans in peaceful demonstration

3 months ago - 11 November 2019 | International

The secretary-general of the Namibia-Cuba Friendship Association, Cecilia Muzile, joined over 100 demonstrators in Windhoek at a peaceful march against the United States of America's...

New blueprint for bilateral relations

3 months ago - 11 November 2019 | International

Following the drawing up of a new blueprint for bilateral relations between Namibia and China the two countries' relations have entered a new era of...

'Lies' emerge in Senzo Meyiwa murder

3 months ago - 11 November 2019 | International

In a twist to the five-year investigation into Bafana Bafana captain Senzo Meyiwa's murder, it has now emerged that the police will refocus their investigations...

Latest News

Let's work together and solve...

1 hour ago | Business

Chantell Husselmann - The PwC Business School has started the year 2020 on a high note with a special occasion that marks the first of...

Dark shadow over fishing quotas

1 hour ago | Opinion

With a total of 5 190 fishing rights applications received by 31 August 2018 for the 90 to 120 rights available in the new allocation...

NSX bears brunt of recession

1 hour ago | Business

Jo-Maré Duddy – The recession didn’t spare the Namibian Stock Exchange (NSX) last year: Trading volumes dropped and the share prices of most of the...

Nust staff expose 'rot'

1 hour ago | Education

A group of concerned Namibia University of Science and Technology (Nust) staff members have appealed to President Hage Geingob as the “last resort” to rescue...

Ndeitunga wants more operational manpower

1 hour ago | Police

Nampol Inspector-General Sebastian Ndeitunga says some of the biggest challenges facing the police force are the increase of violent crimes, gender-based violence and the high...

Dairy industry seeks solutions

1 hour ago | Agriculture

Dairy stakeholders recently met with agriculture minister Alpheus !Naruseb to discuss possible solutions to save the industry. During the meeting, that took place on 20...

New Meatco CEO emphasises quantity,...

1 hour ago | Agriculture

New Meatco CEO Mushokobanji Mwilima has stressed that with the continued drought, the quantity and quality of livestock at abattoirs has to remain competitive, otherwise...

Egypt hails new 'furniture city'...

1 hour ago | Economics

Mahmoud Mourad and Patrick Werr - Egypt has built a multi-billion-pound "furniture city" near the mouth of the Nile, a pilot for a series of...

Fishrot claims more jobs

1 hour ago | Crime

Around 210 employees of the MV Saga and MV Geysir vessels will be retrenched next month.These employees were left stranded earlier this month after both...

Load More