Angel Toy Corp Allegedly A Money Laundering Front For Drug Cartel
LOS ANGELES - Drug cartels have developed a number of money laundering schemes in recent years to turn dirty proceeds into clean cash.
Among them was working with a Los Angeles toy company that sold cuddly stuffed animals. Large amounts of cash were dropped off by couriers at Angel Toy Corp."s downtown headquarters, broken down into smaller amounts and deposited into company accounts. The money was eventually funneled back to Colombia and into the hands of drug lords, authorities said.
On Tuesday, two Angel Toy co-owners are expected to be sentenced for their role in a case that highlights how cartels have attempted to avoid detection. ...