Los Angeles-area homes seized in drug-money probe

Sep 13, 2014 11:48 AM by News Staff

LOS ANGELES (AP) - Authorities are moving to seize three Los Angeles-area homes valued at $10 million in a continuing crackdown on a drug money-laundering operation centered in LA's garment district.

U.S. customs agents posted seizure notices Friday on homes in Pasadena and Alhambra. Authorities valued one home - an 8,000-square-foot mansion in Pasadena - at $8 million.

Authorities believe the homes were purchased with money from international drug cartels.

Earlier this week, federal authorities raided dozens of businesses in the garment district of Los Angeles, arrested nine people and seized more than $60 million in cash and $19 million in bank deposits.

Federal authorities also say they've arranged for the Ministry of Justice in Taiwan to freeze $15.6 million in a bank account allegedly tied to the scheme.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Most Popular