An article from Insight Crime on 26 January said that US federal prosecutors say a real-estate investment firm accepted millions in drug money, revealing how high-end real-estate ventures are being used to launder dirty cash at scale. It was explained in a statement that the “Black Market Peso Exchange facilitates the laundering of vast sums of drug trafficking proceeds”. The forfeiture is said to signal not only the surrender of millions in laundered proceeds, “but also the agreement of corporate defendants to exercise due diligence to ensure they are not assisting in or facilitating money laundering”. The BMPE, which refers to a trade-based money laundering system and came into prominence in the 1980s, is nothing new, but this settlement underscores that the system has evolved to include the investment of dirty dollars within the US into legal, high-end, profit-earning real estate.
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