Saturday, July 3, 2010

Marchman Act Blog - Oddity of the Day: Toy company accused of laundering drug money

LOS ANGELES — Three executives at a stuffed toy manufacturer were arrested Friday on suspicion of laundering millions of dollars for Mexican and Colombian drug traffickers, authorities said.
The arrests followed a two-year, multi-agency probe into the Angel Toy Corp., located in a downtown warehouse.
"It's no small irony that a multimillion-dollar company which promoted itself as retailer of cuddly stuffed animals was allegedly acting as a financial linchpin for drug trafficking operatives," said John Morton, director for U.S. Immigration and Customs Enforcement.
Two co-owners of the business, Meichun Cheng Huang, 57, and Ling Yu, 52, were arrested, along with chief executive officer Xiaoxin Ju, 48. Read Full Story...

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