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Money Laundering Suspects Found Dead After Arrest
Amatitlán, Guatemala - August 2011
A married couple, one from Ecuador and the other from Guatemala, was arrested by police in Amatitlán last week after being found with $8,000 on their persons. The shocking discovery led authorities to discover an additional $58,000 hidden in the spare tire of their vehicle.
Couple Found Dead After Extradition
The couple, who has not been named, was extradited and later found dead, sparking widespread speculation about the extent of Guatemala’s money laundering problem.
Links to Drug Trafficking
According to investigators, the couple was linked to a woman from Quetzaltenango who is married to a sailor (lanchero) and associated with drug trafficking.
Money Laundering Methods
Money laundering experts say that there are no defined smuggling routes in Guatemala, but rather traffickers use various methods to move large sums of cash across borders. The police detective believes that traffickers prefer to send money by plane due to the risk of losing it during transportation on land.
Investigation and Arrests
The investigation has revealed that at least five structures are involved in the money laundering industry, with several high-ranking officials and suspects being detained or arrested. Authorities have issued arrest warrants for over 140 individuals suspected of involvement in money laundering, and cases are ongoing.
Challenges in Combating Money Laundering
Despite these efforts, experts warn that the authorities’ ability to investigate and prosecute money laundering cases is hindered by a lack of resources and support. The country’s attorney general has only five official assistants and four agents for the entire country, making it difficult to effectively combat the problem.
US Embassy Equipment Donation
The recent donation of equipment from the US Embassy in Guatemala, including a modern scanner capable of detecting illicit substances or contraband money, is seen as a step in the right direction. However, experts believe that more needs to be done to address the root causes of money laundering and prevent it from becoming a major problem for the country.
Main Sources of Money Laundered Funds
The study by La Red, an organization directed by former vice president Eduardo Stein, has found that the main source of money laundered electronically is government funds obtained through corruption. This is followed by money from extortion and then drug trafficking.
- Other investigations have highlighted tax evasion as a major contributor to contraband money, with many individuals and businesses avoiding taxes in order to keep their ill-gotten gains.
- Experts warn that it will take more than just equipment and training to effectively combat the problem. It will require imagination, creativity, and a commitment to staying one step ahead of the criminals who seek to exploit Guatemala’s financial system.