Ted Cruz pushes for El Chapo to pay for the wall after drug lord's conviction

[The Purge]

$14 Billion and technically it would be Mexico paying for our much needed wall and not a cent from the taxpayer.....So DEATHRATS what say you now?

 

[Moonglow]

How is Cruz going to get funds that don't exist?

 

[ABikerSailor]

Sorry, but my question is, how in the hell do you propose to get the money? I mean, cartels don't exactly stash their money in banks....................

https://www.univision.com/univision...border-wall-with-chapos-drug-money-delusional

In Cruz's defense, the $14 million figure comes from the U.S. Department of Justice. The U.S.' indictment against El Chapo seeks "forfeiture of more than $14 billion in drug proceeds and other illegal profits."

But here's the rub. That number is— at very best— a wild "guesstimate that has nothing to do with reality," says Vigil.

That's because Chapo's finances are all off-the-books. The drug lord's alleged fortune is based on back-of-the-napkin estimates pertaining to global drug trade calculations over the past 30 years, plus intelligence gathered from other narcos whose information can oftentimes be tinged with narco-culture myth and legend.

Chapo's actual savings are probably closer to $1 billion, according to Vigil's own guesstimate. Mexico's Hope estimates that Chapo's net worth is probably measured in the "tens or hundreds of millions—but certainly not billions."

In any event, it's phantom money. Narco revenue is dirty cash that gets laundered overseas, buried in the desert, squirreled away behind drywall, used to grease the palms of state corruption, and invested in real estate under third party names that are not easily traceable to the source.


"It's basically invented—made up," Hope agrees.

 

[Billy_Bob]

El Chapo's US assets top 7 billion dollars and were frozen when he was arrested. Plenty of money to build the wall... And its on our side of border..

 

[ABikerSailor]

El Chapo's US assets top 7 billion dollars and were frozen when he was arrested. Plenty of money to build the wall... And its on our side of border..

My link says that it's a billion or less. Do you have one that says that an actual 7 billion has been frozen?

 

[Moonglow]

El Chapo's US assets top 7 billion dollars and were frozen when he was arrested. Plenty of money to build the wall... And its on our side of border..

Yet you can't identify them..

 

[ABikerSailor]

El Chapo's US assets top 7 billion dollars and were frozen when he was arrested. Plenty of money to build the wall... And its on our side of border..

Yet you can't identify them..

Interestingly enough, the news keeps saying that Guzman is worth 14 billion, but then the question of where is the money and how do they get it keeps coming up, even in this link..................

The US got 'El Chapo' Guzman — now it has to get his $14 billion

The $14 billion the government expects from Guzman is the highest value yet assigned to his criminal activities, but it's not clear how prosecutors arrived at that number or if that money even exists.

The $14 billion was "the cumulative amount of money based on his drug-trafficking enterprise, but [US prosecutors] never really spelled out what the $14 billion comes from," Duncan Levin, a former assistant US attorney who focused on money laundering and asset forfeiture, told Business Insider.

"The US government is going to seek a forfeiture judgment against him in the amount of money that they estimate is the proceeds of his offense," said Levin, now a managing partner at the law firm Tucker Levin. "Whether he's worth it or not, whether he can pay for it or not, is almost immaterial."

When the US catches a figure like Guzman, "they set an amount without really knowing if the defendant possibly has that many assets," Mike Vigil, former chief of international operations for the US Drug Enforcement Administration, told Business Insider.



Even the DEA is saying they don't know how much he has, it's just an estimate on the high side. And, they are also saying they don't know how they are going to get the money. So, Cruz's plan, while it sounds workable on the surface, is much harder to actually put into place.

 

[Moonglow]

El Chapo's US assets top 7 billion dollars and were frozen when he was arrested. Plenty of money to build the wall... And its on our side of border..

Yet you can't identify them..

Interestingly enough, the news keeps saying that Guzman is worth 14 billion, but then the question of where is the money and how do they get it keeps coming up, even in this link..................

The US got 'El Chapo' Guzman — now it has to get his $14 billion

The $14 billion the government expects from Guzman is the highest value yet assigned to his criminal activities, but it's not clear how prosecutors arrived at that number or if that money even exists.

The $14 billion was "the cumulative amount of money based on his drug-trafficking enterprise, but [US prosecutors] never really spelled out what the $14 billion comes from," Duncan Levin, a former assistant US attorney who focused on money laundering and asset forfeiture, told Business Insider.

"The US government is going to seek a forfeiture judgment against him in the amount of money that they estimate is the proceeds of his offense," said Levin, now a managing partner at the law firm Tucker Levin. "Whether he's worth it or not, whether he can pay for it or not, is almost immaterial."

When the US catches a figure like Guzman, "they set an amount without really knowing if the defendant possibly has that many assets," Mike Vigil, former chief of international operations for the US Drug Enforcement Administration, told Business Insider.



Even the DEA is saying they don't know how much he has, it's just an estimate on the high side. And, they are also saying they don't know how they are going to get the money. So, Cruz's plan, while it sounds workable on the surface, is much harder to actually put into place.

They told the story in 2017 that he had nothing in cash reserves just the equipment he used and I doubt it builds a wall.. But I do love seeing coonhounds on the chase yet they rarely bring back anything for the dinner pot.