US Hits Mexican Accountants Linked to Drug Cartel

(IntegrityTimes.com) – On Tuesday, July 15, the U.S. Treasury Department announced sanctions against four Mexican companies and three individuals related to international fraud.

They are accused of being part of a timeshare scam operation run by the Jalisco New Generation drug cartel (CJNG). The Treasury Department and the FBI have also issued a reminder for banks to stay alert for timeshare fraud from Mexico-based criminal organizations. This type of fraud costs Americans tens of millions of dollars each year.

The four companies named in the sanctions are Constructora Sandgris, Pacific Axis Real Estate, Realty & Maintenance BJ, and Bona Fide Consultores. The specified individuals are Griselda Margarita Arredondo Pinzon, Xeyda Del Refugio Foubert Cadena, and Emiliano Sanchez Martinez. These sanctions prohibit U.S. individuals and businesses from conducting any transactions with these specific people and companies. Any transactions involving their property by Americans or within the United States will be blocked. Additionally, U.S. financial institutions are required to freeze assets held by these individuals and companies under U.S. jurisdiction.

This is not the first set of sanctions aimed at this cartel’s timeshare fraud. In April 2023, the U.S. issued other sanctions against members or associates of the CJNG cartel. Although they operate under the guise of legitimate businesses, they have reportedly killed call center workers who try to quit. They target elderly victims through unsolicited calls and emails that seem credible but are really just attempts to defraud. In 2022 alone, the FBI’s Internet Crime Complaint Center received over 600 complaints related to timeshares owned in Mexico, with reported losses coming to roughly $39.6 million.

The FBI has issued several tips to help Americans avoid being scammed by timeshare fraud. They advise being cautious of unsolicited emails or phone calls, especially those with high-pressure tactics or other urgent demands. Research all contacts thoroughly and verify the legitimacy of the companies yourself or consult with reputable real estate agents or lawyers. They also warn that scammers often claim they have a buyer lined up, but they need the current owner to pay taxes or other fees before the deal can go forward. Following this advice could protect potential victims from the increasingly sophisticated tactics of cartel-supported criminals.

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