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08:38, 13-Jul-2017
‘El Chapo’ drug fortune remains elusive to US, Mexican authorities
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By CGTN’s Denny Alfonso
The global hunt for one of the most wanted men in the world ended last year after drug lord Joaquin “El Chapo” Guzman was caught by federal police in Mexico.
He was extradited to the US this past January, but all the while, American authorities have been trying to trace his multimillion dollar fortune.
The recent admission by Mexico’s attorney general during a television interview left people worldwide in disbelief.
Joaquin Guzman Loera, also known as "El Chapo" is transported to Maximum Security Prison of El Altiplano in Mexico City, Mexico on January 8, 2016. /VCG Photo
Joaquin Guzman Loera, also known as "El Chapo" is transported to Maximum Security Prison of El Altiplano in Mexico City, Mexico on January 8, 2016. /VCG Photo
Mexican Attorney General Raul Cervantes said, “To this day, the US authorities haven’t been able to trace even a dollar from El Chapo’s fortune.”
In 2012 "El Chapo" made it to the Forbes Magazine list as one of the richest men in the world with an estimated fortune of one billion US dollars.
In an exclusive interview with Rolling Stone magazine in 2016, Guzman spoke about the formula that made him rich, “If there was no consumption, there would be no sales. It is true that consumption, day after day, becomes bigger and bigger. So it sells and sells.”
Joaquin Guzman Loera, also known as "El Chapo" (C) is escorted by soldiers during a presentation at the Navy's airstrip in Mexico City on February 22, 2014. /VCG Photo
Joaquin Guzman Loera, also known as "El Chapo" (C) is escorted by soldiers during a presentation at the Navy's airstrip in Mexico City on February 22, 2014. /VCG Photo
According to Jose Reveles, author of the bestseller "El Chapo: Surrender and Betrayal," the Trump administration didn’t have much interest in tracking down those assets after Chapo was extradited to the US in January. Mexican investigators said one of the reasons why they have been unable to locate El Chapo’s major assets is because he didn’t use the financial system to funnel his drug proceeds.
In a statement, the US Justice Department said it, “…seeks forfeiture of more than 14 billion US dollars in drug proceeds and illicit profits.”
And while the search goes on, "El Chapo" awaits trial in a federal prison in New York City.
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