JPMorgan Chase, Bank of America and Wells Fargo accounts used in alleged $92 million money laundering scheme

An alleged $92 million money laundering operation flowed “directly” through three of the largest banks in the United States, according to a new report.

A group of alleged drug traffickers and money launderers are accused of depositing hundreds of thousands of dollars in illicit funds into accounts at JPMorgan Chase, Bank of America and Wells Fargo, CNN reports, citing court documents.

In an indictment, the U.S. Department of Justice accuses Enhua Fang, 37, of running a $92 million drug money laundering cell that filed a total of $17 million in cash in banks across the United States.

“(According to prosecutors) Fang's couriers made more than 100 cash deposits worth $17 million at banks from California to Virginia…

“His alleged accomplices deposited hundreds of thousands of dollars into accounts at JPMorgan Chase, Bank of America and Wells Fargo, according to court documents. »

Fang was arrested in Oregon in April.

The Justice Department says she was the primary contact for Mexican drug trafficking groups and deposited illicit funds into bank accounts in 20 states, including California, Florida, Illinois, Indiana, Missouri, North Carolina, Tennessee, Texas, Virginia and Wisconsin, The Oregonian reports.

Wells Fargo and Bank of America declined to comment on the allegations, while JPMorgan Chase did not respond to requests for comment.

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