Feds Move on El Chapo's $12 Billion Assets, Cruz Has Border Security Plans for the Money
Federal prosecutors are seeking to seize convicted Mexican drug lord Joaquin “El Chapo” Guzman’s assets, claiming he owes the United States in excess of $12 billion.
Citing documents filed in Brooklyn federal court, the New York Post reported Friday that the U.S. government is looking to collect $12,666,191,704 from the drug lord, who was convicted in February.
“The government is entitled to the forfeiture of all property that constitutes or is derived from the defendant’s narcotics-related crimes, as well as any property that facilitated the commission of those crimes,” Friday’s court filing said.
While it’s unclear how much of Guzman’s wealth remains, the Post said a witness testified that the drug lord once lived in luxury, having owned a fleet of planes and even his own zoo.
Moreover, prosecutors say they don’t have to prove Guzman currently has $12 billion in cash in order to seize his assets.
Just the fact that his assets were once that worth that amount is sufficient, they say.
“The government need not prove that the defendant can pay the forfeiture money judgment; it need only prove by a preponderance of the evidence that the amount it seeks is forfeitable,” the filing said.
Responding to the news that prosecutors were looking to seize Guzman’s assets, Texas Sen. Ted Cruz said Saturday the money should go toward building a wall on the U.S.-Mexico border.
“And use that money to build the wall, Cruz tweeted.
And use that money to build the wall ? https://t.co/6tSVRFw0eQ https://t.co/KBveMU9i48
— Ted Cruz (@tedcruz) July 6, 2019
That tweet echoes a sentiment the senator expressed in February after Guzman was convicted.
“America’s justice system prevailed today in convicting Joaquín Guzmán Loera, aka El Chapo, on all 10 counts,” Cruz tweeted at the time.
America’s justice system prevailed today in convicting Joaquín Guzmán Loera, aka El Chapo, on all 10 counts. U.S. prosecutors are seeking $14 billion in drug profits & other assets from El Chapo which should go towards funding our wall to #SecureTheBorder. https://t.co/hPwEUVM6SP
— Senator Ted Cruz (@SenTedCruz) February 12, 2019
“U.S. prosecutors are seeking $14 billion in drug profits & other assets from El Chapo which should go towards funding our wall to #SecureTheBorder,” he added.
In January, Cruz introduced the El CHAPO Act, which would allow money collected from the seizure of Guzman or any other convicted cartel members’ assets to go toward securing America’s southern border.
“By leveraging any criminally forfeited assets of El Chapo and other murderous drug lords, we can offset the cost of securing our border and make meaningful progress toward delivering on the promises made to the American people,” Cruz said in a news release.
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