In this "Asset Search News Roundup", I discuss the money laundering case against N.Y.P.D Officer Yaniris Balbuena– who is accused of hiding drug monies in nine bank accounts. I also mention the money laundering investigation just commenced against Houston billionaire R. Allen Stanford.
*Although Officer Yaniris Balbuena is almost a nine year veteran of the N.Y.P.D., she was arrested on February 13th for a suspected violation of 18 U.S.C.§ 1956 (h) (conspiracy to commit money laundering). The New York Times and a U.S. Immigration and Customs Enforcement press release each explained that Officer Balbuena could have parked over $230,000 in drug monies in nine bank accounts. The source of the $230,000 is believed to be Officer Balbuena’s former companion, an alleged Bronx narcotics trafficker killed in a drug-related homicide. As reflected by the attached docket report, the money laundering case against Officer Balbuena is pending in the U.S. District Court for the Southern District of New York.
**The February 16, 2009, SEC civil complaint against Houston billionaire R. Allen Stanford alleges that Mr. Stanford may have committed an $8 billion dollar fraud. "Accused Financier Under Federal Drug Investigation" and Bloomberg.Com however, report that federal agents are additionally launching a money laundering investigation concerning Mr. Stanford. Among other things, the investigation is reportedly focusing on whether Mr. Stanford could have washed monies on behalf of the narco-trafficking Gulf Cartel, whose kingpin Osiel Cardenas-Guillen, is pictured below:
Photo: U.S. Drug Enforcement Administration
Copyright 2009 Fred L. Abrams