BVI-based companies as related to North Valle drug cartel?
On June 13, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) claimed that 5 physical persons and 20 companies are connected with Colombia’s North Valle drug cartel. These people and companies are to face economic sanctions.
Among the individuals and companies named by OFAC there are some companies registered in the British Virgin Islands. BVI-based companies were used to move cartel's illegal proceeds. The other companies charged with their link to North Valle drug cartel are the companies incorporated in Colombia, Panama and the US.
Since this US Treasury Department has just designated physical persons and companies connected with North Valle cartel, there has been no official response from BVI representatives yet. However, commentaries on US and BVI co-operation in this matter should follow very soon.
Among the individuals and companies named by OFAC there are some companies registered in the British Virgin Islands. BVI-based companies were used to move cartel's illegal proceeds. The other companies charged with their link to North Valle drug cartel are the companies incorporated in Colombia, Panama and the US.
Since this US Treasury Department has just designated physical persons and companies connected with North Valle cartel, there has been no official response from BVI representatives yet. However, commentaries on US and BVI co-operation in this matter should follow very soon.
posted by Brian Obvi, Offshore Analyst | 10:31 AM
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